The Education Plan

What The Education Plan does

The Education Plan is a New Mexico state-sponsored 529 education savings plan, administered by The Education Trust Board of New Mexico (a state government entity) with Ascensus College Savings Recordkeeping Services, LLC serving as Program Manager. Established in 1996, the plan enables tax-advantaged saving for qualified education expenses including K-12 tuition, college, apprenticeships, credentialing programs, student loans, and Roth IRA rollovers, with a $500,000 per-beneficiary contribution limit and a $1 minimum to open. New Mexico residents may deduct 100% of contributions from state taxable income, while the plan remains open to residents of all U.S. states.

The underlying technology is a web-based enrollment and account-management platform operated by Ascensus, paired with the Ready Save 529 mobile app (iOS/Android) and the Ugift gifting service (an Ascensus-licensed service mark). Investment options span mutual funds, ETFs, and New York Life-issued funding agreements across age-based, target-risk, and individual portfolio selections. The plan serves families and grandparents as primary account holders, with secondary outreach to employers (as a benefit offering), financial professionals (as a recommended product), and New Mexico residents (state-tax-driven). Marketing channels are dominated by content/financial literacy publishing, organic social, email, and community STEAM partnerships (PBS Kids, NASA, Code.org).

The business model is asset-based fee revenue: the plan does not publish revenue or AUM, but generates recurring management fees embedded in portfolio returns via the Program Manager arrangement with Ascensus and underlying fund/service providers. There are no funding rounds, M&A events, or PE/VC involvement because the plan is a state-administered trust; commercial "moves" are limited to product enhancements (Roth IRA rollover, K-12 expansion), partnership extensions (financial literacy ecosystem), and content/brand campaigns (30-year anniversary, 529 Day, comparative marketing against Trump Accounts).

Name

The Education Plan

Legal name

The Education Plan

Website

https://theeducationplan.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

1–10 employees

Short description

The Education Plan is a New Mexico state-sponsored 529 education savings plan, administered by the New Mexico Education Trust Board and operated by Ascensus, that helps families, grandparents, employers, and financial professionals save tax-advantagedly for qualified education expenses at U.S. residents nationwide.

Ownership category

akta.pro rank

Product category

529 Education Savings Plan

NAICS

Educational Services (611), Educational Support Services (611710)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Education Funding Planning (College/529) (FSAEAAAF)

akta.pro secondary industry

Scholarships, Grants & Education Benefits Administration (Financing-adjacent) (FSAKAEAM)

Keywords

• 529 education savings
• College savings plan
• Education savings account
• 529 plan administration
• Tax-advantaged savings

Headquarters

HQ city

Kansas City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Program Management Fees: The Education Plan generates revenue through program management fees charged against assets under management. Fees are embedded in the investment returns of the portfolio options. Ascensus College Savings Recordkeeping Services, LLC serves as the Program Manager with responsibility for day-to-day operations including investment advisory, recordkeeping, and administrative services.
2. Investment Management: Revenue from management fees on the underlying mutual funds, exchange-traded funds, and funding agreements issued by New York Life that comprise The Education Plan's portfolio options.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

The Education Plan is a state-sponsored 529 education savings plan that enables families, grandparents, and other individuals to open tax-advantaged investment accounts to save for a beneficiary's future education expenses. Contributions grow tax-deferred and withdrawals are tax-free when used for qualified education expenses (K-12 tuition, college, apprenticeships, credentialing, student loans, and Roth IRA rollovers). New Mexico residents receive a 100% state income tax deduction on contributions. Account opening is available online starting at $1, with a maximum contribution limit of $500,000 per beneficiary.

Product overview

The Education Plan is a single 529 College Savings Plan administered by the New Mexico Education Trust Board, with Ascensus College Savings Recordkeeping Services, LLC serving as the Program Manager. The core product is the 529 education savings account offering tax-advantaged investing for future education expenses. The plan is supplemented by the Ready Save 529 mobile app for account management, Individual Portfolio investment options, a 529 Gifting feature powered by Ugift, and an educational Learning Center that includes STEAM resources, Financial Literacy materials, and the Teppie mascot program. The portfolios invest in mutual funds, exchange-traded funds, and/or funding agreements issued by New York Life.

Differentiator

Problem solved

Functional benefit

Products and services

• The Education Plan 529 College Savings Plan

Quantifiable outcome

• New Mexico residents can deduct 100% of contributions from state taxable income each year.
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• The Education Trust Board of New MexicocoreStrategic or Co-development PartnerThe Education Trust Board of New Mexico (NMETB) is the state agency that administers The Education Plan. NMETB is committed to ensuring website accessibility and adheres to WCAG 2.0 Level AA standards and Section 508 of the Rehabilitation Act.
• Ascensus College Savings Recordkeeping Services, LLCcoreTechnology or IntegrationAscensus provides day-to-day operations for The Education Plan including investment advisory, recordkeeping, and administrative services. Also provides the Ugift gifting platform (registered service mark of Ascensus Broker Dealer Services, LLC).
• Tutor Doctor AlbuquerqueminorStrategic or Co-development PartnerFinancial literacy materials and resources prepared in association with Tutor Doctor Albuquerque to help teach kids about saving, budgeting, and financial management.
• Intuit for EducationminorOthersFree and flexible financial literacy program using real-world tools to learn about finances and build financial confidence. Featured in The Education Plan's Financial Literacy Resource Directory.
• United Way - Financial SecurityminorOthersPartnership providing resources for financial security and career development. Featured in The Education Plan's Financial Literacy Resource Directory.
• FDIC - Money Smart for Young PeopleminorOthersFree age-appropriate curricula promoting financial understanding for pre-kindergarten through 12th grade educators. Featured in The Education Plan's Financial Literacy Resource Directory.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Utah Educational Savings Plan (UESP): Direct peer — Utah's state-sponsored 529 plan, also managed with Ascensus, offering national enrollment, advisor channels, and similar investment menu structure. Often cited as a top-rated low-fee 529 plan, raising the competitive bar on price and performance.
• Bright Start 529 (Illinois): Direct peer — Illinois's state-sponsored 529 plan, comparable age-based portfolios and national enrollment via Ascensus infrastructure, with a focus on advisor and employer-sold channels similar to The Education Plan.
• New York 529 College Savings Program: Direct state-sponsored 529 peer with comparable contribution limits, advisor and employer channels, and tax-advantaged status. New York's plan is among the largest by AUM and operates nationally, making it a key competitive benchmark for The Education Plan.
• ScholarShare 529 (California): Direct peer — California's state-sponsored 529 plan, run by TIAA, with similar age-based and individual portfolios, advisor channel, and a strong state-tax-deduction story that competes directly for advisor recommendations.
• Virginia529 (CollegeAmerica): Direct peer — one of the largest U.S. state 529 plans with national reach, multiple product lines (CollegeAmerica, Invest529), and broad advisor distribution. Comparable in target audience (families, advisors, employers) and use-case breadth.

Broad incumbents

• Charles Schwab (529 offerings): Broad incumbent — Schwab distributes multiple state 529 plans through its brokerage platform and provides integrated account experience. Comparable for advisors and self-directed households shopping on fees, fund lineup, and UX.
• Fidelity Investments (529 offerings): Broad incumbent — Fidelity offers its own brokerage-sold 529 plan (UNIQUE College Investing Plan) and is a dominant retail investment platform. It competes with The Education Plan for self-directed savers and advisors, especially out of state where state-tax benefits don't apply.
• Vanguard (529 offerings): Broad incumbent — Vanguard offers state 529 plans (e.g., Nevada 529) known for low fees and index-based portfolios. Strong benchmark for price-sensitive savers and advisors who already custody assets at Vanguard.

Emerging players

• Backer: Emerging player — a fintech-style 529 management platform focused on modern UX, automated investing, and 529-to-Roth IRA rollover assistance. Competes with traditional state plans like The Education Plan for digital-native savers and families seeking a more contemporary onboarding experience.

Others

• Saving for College: Adjacent — an independent 529 comparison, ratings, and education platform used heavily by financial advisors and families during plan selection. Not a product peer, but a key ecosystem participant that influences which 529 plans (including The Education Plan) get recommended.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC24kB6CNwT-xlPnbEsDYX-Q
• Facebookfacebook.com/theeducationplan
• LinkedInlinkedin.com/company/the-education-plan
• Instagraminstagram.com/theeducationplan

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Education Plan