A 529 Plan is a special, tax-advantaged savings account designed to help families save for education expenses. In New Mexico, it’s called The Education Plan.
Historically, 529s were only for college tuition. But federal law has expanded their use, and New Mexico allows these newer options:
✔ K–12 Tuition – Up to $10,000 per year can be used for private or religious school tuition.
✔ Apprenticeships – Qualified apprenticeship programs can be funded.
✔ College & Graduate School – Tuition, fees, books, supplies, computers, and even housing.
✔ Student Loan Repayment – Up to $10,000 can be used to pay down existing student loans.
A 529 plan is one way parents can take control of education funding. Whether your child attends a private K–12 school, pursues a trade, or goes to college, the 529 gives you flexibility, savings, and freedom to direct those dollars where they’ll do the most good.
What’s in Place Now:
What Has Been Proposed (But Did Not Pass):
Parents in New Mexico currently have some rights—but without a formal statewide Parental Bill of Rights, they often face inconsistency, resistance, or lack of transparency at the local level. This makes it even more important for parents to stay engaged, ask questions, and demand access at their child’s school.
Public school transfers, charter schools, magnet schools, virtual academies, and homeschooling are all available in New Mexico.
Families can use tax-advantaged funds for K–12 tuition, apprenticeships, and college costs.
Proposals for EFAs (state funds parents can use for private tuition, tutoring, etc.) have been introduced but not yet passed.
Parents can request curriculum access and opt their child out of certain subjects, but without a statewide Parental Bill of Rights, protections differ by district.
The more parents speak up and stay involved, the more accountability and transparency they can secure for their children’s education.
Every child deserves an education that helps them thrive, and every parent deserves the freedom to choose the learning environment that best reflects their family’s values. In New Mexico, options exist—but barriers remain.
Learn more about these challenges by exploring our Key Issue on:
Because when it comes to your child’s education—My Kid. My Choice.
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