A College Savings Award Program
The Saving for Success Award Program is a college savings award program administered by New Mexico Community Trust. The goal of the program is to prepare eligible K-8 students in school in New Mexico for success in future education through financial literacy education, encouragement and an award of up to $1,000 in initial value invested in a 529 education savings account with The Education Plan®, New Mexico’s 529 education savings plan.
We are no longer accepting 2022/2023 applications.
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The Award
Up to 50 eligible students in New Mexico will receive a Saving for Success Award of up to $1,000 invested in a 529 education savings account with The Education Plan®.
The Application
To apply students must:
- Be a citizen or resident alien of the United States of America with a valid Social Security number or Tax ID Number (TIN)
- Be attending a school, or homeschooled, in New Mexico
- Be in grades K-8 at the time of application
- Prepare a short personal statement
- Provide official documentation from current school or source
of education - Demonstrate financial need
- Agree with Terms & Conditions of the award
Donate to the Saving for Success Award Fund
Education is the key to a brighter future for all New Mexicans. We welcome donations to the fund from community organizations and individuals. By contributing, you can help students thrive and lessen their debt load as they start their futures.
Initial funding for this scholarship program was provided by the Jack Beaty Educational Scholarship Foundation.
About New Mexico
Community Trust
New Mexico Community Trust is a tax-exempt public charity. The Trust provides financial, investment, donor, and grant management services for communities across New Mexico. They enable those with philanthropic interests to easily and effectively provide support to the issues that are important to them — immediately or through a planned gift.
Saving For Success Local Interviews
Saving For Success Local Interviews
What's a 529 Plan?
A 529 plan is a tax advantaged education savings plan designed to make post-secondary education more affordable for families. The Education Plan® is the name of New Mexico’s 529 education savings plan. The savings in a 529 plan can be used for qualified educational expenses, including:
- Tuition and fees
- Books
- Supplies and equipment
- Room and board for beneficiaries attending on at least a half-time basis
- Computer technology, equipment, internet access
