Three Rio Rancho students win Saving for Success awards

New Mexico Community Trust announced Tuesday the recipients of the second annual Saving for Success Award Program in New Mexico.

The Saving for Success Award is a college savings award program administered by NMCT with a mission to make higher education more affordable and accessible, especially to students in New Mexico who have financial need.

Twenty-two students from seven different New Mexico counties will receive a Saving for Success Award during this award cycle. The award application asked students about school achievement, honors and awards, community involvement and higher education goals.

The goal of the Saving for Success Award program is to help prepare eligible K-8 students in New Mexico for future success in higher education through financial literacy education, encouragement and an award of $1,000 in initial value invested in a 529 account with The Education Plan, a savings plan sponsored by the state of New Mexico.

Among those 22 students were three from Rio Rancho: fourth grader Ariana Hall, sixth grader Ava Hall and eighth grader William Hall.

“Thank you for this award,” William Hall said. “I plan to use this money to attend an engineering college and make a difference in the lives of my family and community.”

The Saving for Success Award helps those students and families that may not be able to save for college and will help with higher education expenses including tuition, books, and room and board at universities, community colleges, trade schools and professional schools.

“Starting a college savings account early helps increase a child’s ability to successfully obtain a higher education,” said Randy Royster, president and CEO of NMCT. “College expenses are growing every year, but research has shown that a child with just $500 saved for college is four times more likely to graduate than those without any savings.”