Scholar's Edge

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New Mexico's Scholar's Edge is an advisor-sold 529 savings program. Ascensus College Savings Recordkeeping Services, LLC, as the program manager, is responsible for the day-today operations of the plan. Principal Global Investors, LLC, as the investment advisor to the plan, provides investment management services to the Plan. Principal Funds Distributor, Inc. serves as the distributor of the Plan. Scholar's Edge features enrollment-based, target risk and individual portfolios that are multi-asset and multi-manager strategies. To find a financial advisor in your area, use the Directory of Financial Professionals.

Fee Score

4 / 5

Performance

3.5 / 5
  • Program type
    Savings
  • Inception
    2001, but changed substantially in 2019
  • State agency
    Education Trust Board of New Mexico
  • Tax deduction
  • Program Manager
    Ascensus College Savings Recordkeeping Services, LLC
  • Program distributor
    Principal Funds Distributor, Inc

Ratings & Rankings

Our overall rating for NM residents

This is a program that offers outstanding flexibility, attractive investments, and additional economic benefits (such as generous state tax incentives) that for some people, at least, will provide a substantial boost to their savings. There are few, if any, weaknesses noted in the program.

Our overall rating for non-residents

This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.

SAVING FOR COLLEGE’S 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories.

Eligibility

State residency requirements:

Who can be a participant/owner in the program?

Significant time or age restrictions imposed by the program:

Did you know?

  • NM residents can claim a tax deduction for contributions to a NM 529 plan.

    Contributions are deductible in computing state taxable income

  • 529 plan contributions grow tax-free.

    Withdrawals are tax-free when used to pay for qualified higher education expenses.

  • You can contribute as much as you want, as often as you want.

    The key is to get started. Enroll today by completing a quick form online.

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Contributions

Maximum contributions:

Minimum contributions:

Investment Options

Age-based/Enrollment Year investment options:

View more age-based investment options

Static investment options:

View more static investment options

Underlying fund allocations:

Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

Account maintenance fee:

Program management fees:

Expenses of the underlying investments:

Total asset-based expense ratio:

Broker loads and commissions:

Breakpoint pricing:

Does breakpoint pricing include non-529 assets under rights of accumulation policies

Taxes and other Benefits

  • Tax deduction for single filers
    No limit
  • Tax deduction for joint filers
    No limit

Example

Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.

Program match on contributions:

State tax deduction or credit for contributions:

State tax recapture provisions:

State definition of qualified expenses

State tax treatment of qualified distributions:

State tax treatment of rollovers:

Does the sponsoring state exclude the value of an account for state financial aid purposes?

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

Is there a rewards program or outside scholarship program that works with this program?

Upromise Helps Families Save for College

Statutory protection of an account from creditors:

Did you know?

  • Residents are not limited to investing in their own state’s 529 plan.

    Another state may offer a plan that performs better and has lower fees.

  • The 529 plan chosen does not affect which state the student enrolls in.

    You can live in New York, open a plan from Nevada and send a student to college in Florida.

  • The best way to maximize your college savings?

    Start early and save often. You can get started today with easy online enrollment.

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Distributions & Terminations

To whom are distributions made payable:

Account Changes

Policy regarding participant/owner changes:

Documents, Access & Reporting

Does participant have online password-protected access to account?

Can the complete enrollment process including funding be done online?

Documents and other services accessible or downloadable on the program's public Web site:

Contact

Website:

Telephone:

Telephone for broker use:

State News

Start saving for your child’s future today

Complete the online application and make your first deposit

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A good place to start:
A good place to start:
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