New Visitors Privacy Policy Sponsorship Contact Us Media
Baby Boomers Family Green Home and Auto In Critical Condition Just Starting Out Lifestyle Money
- advertisement -
Bankrate.com
News & Advice Compare Rates Calculators
Rate Alerts  |  Glossary  |  Help
Mortgage Home
Equity
Auto CDs &
Investments
Retirement Checking &
Savings
Credit
Cards
Debt
Management
College
Finance
Taxes Personal
Finance

New Mexico


Scholar'sEdge


5 Cap Ratings
(Resident Rating) (Non-Resident Rating)

Summary
New Mexico's Scholar'sEdge, a broker-sold 529 savings program, managed by OppenheimerFunds, features age-based and static portfolio options utilizing OppenheimerFunds, American Century, Thornburg, and MainStay mutual funds along with a stable value option.

Program Details
Summary: New Mexico's Scholar'sEdge, a broker-sold 529 savings program, managed by OppenheimerFunds, features age-based and static portfolio options utilizing OppenheimerFunds, American Century, Thornburg, and MainStay mutual funds along with a stable value option.
Program type: Savings
Program manager: OFI Private Investments, Inc., a subsidiary of OppenheimerFunds, Inc.
State residency requirements: None
Maximum contributions: Accepts contributions until all account balances in New Mexico's 529 plans for the same beneficiary reach $294,000.
Minimum contributions: With lump-sum contributions, the minimum initial contribution is $250 ($25 per portfolio), and the minimum subsequent contribution is $25. With the automatic investment plan, the minimum contribution level is $25.
Age-based investment options: The Age-Based Option contains 6 portfolios, each invested in mutual funds. Contributions are placed into the portfolio corresponding to the age of the beneficiary and later reassigned to more conservative portfolios as the beneficiary approaches college.
Static investment options: Select among 6 multi-fund portfolios with varying risk tolerances, 23 individual-fund portfolios, and the Capital Preservation Portfolio.
Underlying investments: OppenheimerFunds, American Century, Thornburg, and MainStay mutual funds; the Capital Preservation Portfolio invests primarily in investment contracts issued by New York Life Insurance Company.
Enrollment or application fee: None, but contributions may be subject to a sales charge depending on share class.
Account maintenance fee: $25 annually for accounts with less than $25,000, waived if either the designated beneficiary or account owner is a New Mexico resident and for accounts in an automatic contribution plan.
Program management fees: 0.20% management fee (includes 0.10% fee to the state), plus distribution/servicing fees of 0.25% for Class A and 1.00% for Class C, except that the Short Term Yield Portfolio has no distribution/servicing fees.
Expenses of the underlying investments: Ranges from 0.52% to 0.67% (portfolio weighted average) in the age-based and static multi-fund portfolios, from 0.16% to 1.18% in the individual-fund portfolios, and 0.01% in the Capital Preservation Portfolio.
Total asset-based expense ratio: Class A: 0.36% - 1.63%
Class C: 0.36% - 2.38%
Program match on contributions: None.
State tax deduction or credit for contributions: Contributions to a New Mexico 529 plan are fully deductible in computing New Mexico taxable income.
Web site: Click here to visit
Telephone: 1-866-529-7283
Twitter
Facebook
Compare more 529 plans
     

 

 
 

Powered by Savingforcollege.com
Copyright 2005 Savingforcollege.com, LLC. All Rights Reserved.
Bankrate disclaimer: The following disclaimer (revised only to the extent necessary to maintain consistent defined terms with Bankate.com’s Terms of Use) shall be displayed on or be accessible from the web pages(s) featuring Company’s Web Site Content: “The information contained in this material and related materials ("Information") is based on information from sources believed to be accurate and reliable and every reasonable effort has been made to make the Information as complete and accurate as possible but such completeness and accuracy cannot and is not guaranteed. The reader and user of the Information should use the Information as a general guide and not as the ultimate source of information. The Information is not intended to include every possible bit of information regarding the Information but rather to complement and supplement information otherwise available and the reader and user should use the Information accordingly. The Information contains information about tax and other laws and these laws may change. The reader and user should realize that any investment involves risk and the assumptions and projections used in the Information may not be how the investments turn out. The reader and user should consult with their own tax, financial and legal advisors about all of the Information.”
College Financing
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
Stafford - in school 4.66%
PLUS loan 7.21%
Private loan 8.30%

RELATED CALCULATORS
  College planning  
  Tax-free savings  
  Financial aid  
  Home equity loan  
VIEW ALL 

BASICS SERIES
College Financing Basics
Where there's a will, there's a way to pay.
The value of a degree
What is a 529 plan?
Getting more financial aid
Paying off student loans
- advertisement -

About Bankrate | Privacy Policy/Your California Privacy Rights | Online Media Kit | Partnerships | Investor Relations | Press Room | Contact Us | Sitemap
NYSE: RATE | RSS Feeds |

* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here.

Bankrate.com ®, Copyright © 2014 Bankrate, Inc., All Rights Reserved, Terms of Use.