The Education Plan College Savings Program is managed by Ascensus College Savings and features enrollment-based, index and actively managed static portfolios, and individual fund options from a variety of fund families.
- Program typeSavings
- Inception2000, but changed substantially in 2019
- State agencyEducation Trust Board of New Mexico
- Tax deduction
- Program ManagerAscensus College Savings
- Program distributorAscensus College Savings
Performance3.0Â of 5
Ease of Use4.33Â of 5
Savings Success 4.0Â of 5
Program Delivery4.22Â of 5
Eligibility
State residency requirements:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Alternative 529 Plans
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You are not limited to opening your own state's 529 plan, so shop around. Here are some highly rated options to consider:
Plan
Our Rating
Fee Score
Performance
Contributions
Maximum contributions:
Minimum contributions:
Does the program offer an e-gifting platform for receiving gift contributions?
Investment Options
Age-based/Enrollment Year investment options:
View more age-based investment optionsStatic investment options:
View more static investment optionsUnderlying investments:
View a full list of this plan’s investment optionsUnderlying 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:
Taxes and other Benefits
- Tax deduction for single filersNo limit
- Tax deduction for joint filersNo 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?
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