A College Savings
The Saving for Success Award Program is a new 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 future success in higher education through financial literacy education, encouragement and an award of up to $1,000 in initial value invested in a 529 college savings account with The Education Plan®, New Mexico’s 529 college savings plan.
Up to 50 eligible students in New Mexico will receive a Saving for Success Award of up to $1,000 invested in a 529 college savings account with The Education Plan®.
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
- Demonstrate financial need
- Agree with Terms & Conditions of the award
About New Mexico
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.
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.
What's a 529 Plan?
A 529 plan is a tax advantaged college savings plan designed to make post-secondary education more affordable for families. The Education Plan® is the name of New Mexico’s 529 college savings plan. The savings in a 529 plan can be used for qualified educational expenses, including:
- Tuition and fees
- Supplies and equipment
- Room and board for beneficiaries attending on at least a half-time basis
- Computer technology, equipment, internet access