Recent State News
New Mexico Selects Ascensus and Principal to Manage the State's 529 Program
After a competitive Request for Proposals process, The Education Trust Board of New Mexico has selected Ascensus and Principal as managers for The Education Plan and the Scholar's Edge 529 plans. This marks the entrance of Principal into the 529 savings account market.Ascensus will provide program management, recordkeeping, administrative services, and investment oversight for The Education Plan.
State launches CHET Dream Big! competition for students
State Treasurer Shawn T. Wooden recently launched the 2019 Dream Big! college-savings competition that will award up to $1,000 each to 48 students in grades K-8. 48 students in grades K-8.Four students will be awarded a grand prize of $1,000, while the others will be awarded $500. A total of $26,000 will be awarded statewide to 48 students in the form of a contribution to a new or existing CHET account.
Assets and accounts on the rise for Bright Start, Bright Directions
Assets of Bright Start and Bright Directions – which differ only in the investment options offered – reached $10.4 billion in December. The programs have also seen a 40 percent increase in accounts over the past 4 years, and 52,000 of the total 625,000 accounts were added in 2018 alone.