The Saving for Success Award Program is a new college savings award program administered by the New Mexico Community Trust with a mission to make higher education more affordable and accessible, especially to students in New Mexico who have financial need. According to the U.S. Department of Education’s website, college remains the greatest driver of socioeconomic mobility in America, and higher education remains the best investment students can make for their future.
The goal of the Saving for Success Award program is to prepare eligible K-8 students in New Mexico for future success in higher education through financial literacy education, encouragement and an award of up to $1,000 invested in a 529 college savings account with The Education Plan, New Mexico’s 529 college savings plan. This year, up to fifty eligible students in New Mexico will receive a Saving for Success Award. The award application will ask students about school achievement, honors and awards, community involvement, and higher education goals.
Initial funding for this award program was provided by the Jack Beaty Educational Scholarship Foundation. The foundation was created to carry out the final wishes of long-time New Mexico businessman and political leader Jack Beaty to fund college expenses for low-income New Mexicans.
