The best line of defense against the rising cost of higher education is to start saving early. The 529 College Savings Program helps you do just that. Part savings program, part investment program, earnings on your contributions grow tax free and withdrawals are not taxed if used for qualified educational expenses.1
State Comptroller DiNapoli explains the savings and tax benefits of New York's 529 College Savings Program. Text Version
- Visit NY's 529 College Savings Plan website to learn more
- Learn who administers the NYSAVES Direct Plan and Advisor Plan
1 Earnings on nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income tax. Tax and other benefits are contingent on meeting other requirements, and certain withdrawals are subject to federal, state and local taxes.