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Does New Mexico have a 529 Education Plan?
Can a married person contribute to a New Mexico 529 plan?
Can I withdraw money from a 529 plan in New Mexico?
Are 529 distributions tax deductible in New Mexico?
New Mexico's 529 College Savings Plan. The Education Plan, New Mexico's 529 education savings plan, is a smart way for New Mexicans to save small amounts that can grow significantly over time to cover future education expenses and reduce the burden of student loan debt.
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.
The Education Plan (TEP) is a 529 Education Savings Plan administered by The Education Trust Board of New Mexico. It’s a tax-advantaged way to save for education expenses, including tuition, room and board, books, fees and computer equipment at a four-year university, community college, professional school, or trade school.
If you’re a New Mexico resident who is contributing to a 529 education savings account with The Education Plan, you now can receive a tax deduction for contributions used for a wider range of federally qualified education expenses, including: Up to $10,000 a year to cover expenses for tuition in private K-12 schools.
The Education Plan® is a 529 education savings plan sponsored by New Mexico. The Benefits Of A 529 Plan With The Education Plan Include: Tax advantages. Robust gifting options. Flexible investment options. Open an account with just $1. Variety of uses and expenses, including K-12 education.
The Education Plan is New Mexico’s 529 Education Investment Plan. It is sponsored by the state in the interest of helping more kids go to college and come out with less debt. You can open an account with $0. Anyone can open an account for anyone (child, niece/nephew, grandchild, yourself).
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related to: nm education plan 529See our tips and solutions that may help you better plan to achieve this goal. Our financial advisors can help you plan for educational goals for you or your children.
