ALBUQUERQUE, N.M. (KRQE) – The Education Trust Board of New Mexico wants to encourage New Mexicans to give the gift of education, which can have a more meaningful and lasting impact.
Making a gift contribution to a loved one’s 529 plan is easy and can be done at any time by anyone with as little as $1. It also is a tax-deductible gift for New Mexico taxpayers. With the addition of a feature called U-Gift as of December 9th, family members and friends can now set up recurring gift contributions.
Gift contributions into 529 plans can help education savings and grow accounts so that more expenses can be covered in the future, including tuition, fees, room and board, books, supplies and computers.
Studies also show that just $500 saved for education makes a student four-times more likely to attend college and three-times more likely to graduate.