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July 06, 2011

 

DiNapoli Announces Award of 529 College Savings Program Manager Contract

New York State Comptroller Thomas P. DiNapoli and the New York Higher Education Services Corporation (HESC) today announced the selection of Upromise Investments Inc. as Program Manager of New York's 529 College Savings Program following a competitively bid procurement process. Upromise was awarded a new seven year contract, contingent on contract negotiation and approval by the New York State Attorney General and the State Comptroller's Bureau of Contracts. Upromise Investments Inc. has partnered with Vanguard as investment manager for the Direct Plan and JP Morgan Asset Management for the Advisor Plan. New York's 529 College Savings Program currently has more than $12 billion invested in more than 680,000 accounts.

"Family budgets are getting tighter, but families still need to save for college," DiNapoli said. "The 529 Program is a low-cost, easy-to-use program that helps make college more accessible to New Yorkers. When you're saving for college, every dime counts."

For more information on New York's 529 College Savings Program, please call toll-free 1-877-NYSAVES or visit www.nysaves.org.

 

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