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New Mexico 529 plans
New Mexico residents receive numerous state plan benefits.
Learn about state tax benefits ↓New Mexico residents receive numerous state plan benefits.
Learn about state tax benefits ↓Featured 529 plans for New Mexico residents:
State tax deduction or credit
Contributions to a New Mexico 529 plan are fully deductible in computing New Mexico taxable income.
Which 529 plans does New Mexico offer?
New Mexico offers two Ascensus-managed 529 savings plans available to residents of any state. The Education Plan is a direct-sold multi-manager program, while the advisor-sold Scholar's Edge program features options from Principal and other leading investment managers.
Direct sold 529 plans
"Do-it-yourself" type plans in which the saver enrolls and sets up the initial investment. Fortunately most 529 plans make this simple! You'll pay no sales charges beyond fund and administrative fees.
Our rating
4 / 5
Special award
Advisor sold 529 plans
Plans offered by investment professionals. You'll gain the guidance of a financial advisor, but will incur sales charges and/or fees as you invest.
Our rating
4 / 5
Special award
ABLE Plans
529 ABLE accounts let Americans with disabilities save tax-deferred for education and other expenses without impacting eligibility for public benefits.
ABLE Plan
The State of New Mexico has partnered with the State of Ohio to create ABLE New Mexico, a program that offers the STABLE Account Plan to eligible New Mexico residents. The STABLE Account Plan is established pursuant to Ohio law (Ohio Revised Code §113.50-§113.56) in accordance with Section 529A, and is structured and operated by the Ohio Treasurer's Office and its Service Providers.
A good place to start:
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