Secure Your Family's Future This National 529 Day with The Education Plan®
Santa Fe, NM, May 19, 2025 (GLOBE NEWSWIRE) -- With education costs on the rise, more families are taking proactive steps to secure a brighter future for their children. Join thousands of families nationwide in celebrating National 529 Day by looking to the future and planning now, for a stronger path to financial security and a more attainable future education.
Observed each year on May 29, National 529 Day highlights the importance of saving early and strategically for future education expenses. According to the Education Data Initiative, 35% of families are now using college savings plans—a number that continues to grow as education is one of the most significant investments many families will make. American families are increasingly taking advantage of 529 savings plans to save for education. According to the College Savings Plan Network, as of December 31, 2024, there are nearly 17 million 529 accounts with $525 billion in savings.
It's easy to see why: earning a bachelor's degree at an in-state, public four-year university can cost over $100,000 when accounting for tuition, fees, room and board, and other expenses, according to College Board. With these costs climbing, starting early with a 529 education savings plan is more important than ever.
The good news? Saving can be simple and accessible. Families can open a tax-advantaged 529 account with no minimum initial contribution required and may set up convenient automatic contributions to build savings automatically. Funds in a 529 account grow tax-free and withdrawals are tax-free when used for qualified education expenses. Many states, like New Mexico, offer state tax deductions or credits for contributions to 529 plans.
529 plans cover a wide range of qualified expenses, from tuition and housing to books, computers, internet access, and even K–12 tuition, apprenticeship expenses, student loan repayments, and more.
The impact is powerful: research shows that a child with just $500 in education savings is three times more likely to attend college and four times more likely to graduate.
One flexible option for families nationwide is The Education Plan®, a 529 education savings program sponsored by New Mexico. The Education Plan offers valuable resources for families, employers, and financial professionals, making it easy to start saving today.
To learn more and start your education savings journey, visit www.TheEducationPlan.com today.
CONTACT: Joanie Griffin The Education Plan 505-261-4444 jgriffin@sunny505.com
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