NY529 College Savings Plan Helps Cook Up a Bright Future! Enroll Your Child Today!

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NY529 College Savings PlanHow do you get kids and parents excited about their future college making decisions? Vanguard did just that by hosting a cook off for the kids at the Institute of Culinary Education in NYC while sharing with the parents all the benefits of investing in a NY529 College Savings Plan.

Cupcakes, Cooking & College Plans

NY529 College Savings Plan

The pint sized chefs gathered in the kitchen after crafting their unique hats where they learned to make garlic knots, pasta and cupcakes.

NY529 College Savings Plan

While the kids cooked up their masterpiece for lunch, the  moms had the opportunity to hear about all of the benefits the NY529 College Savings Plan has to offer from one of the Vanguard representatives. Notice how even as adults we shy away from being in the front of the class. Some things never change.

What is the NY529 College Savings Plan?

NY529 College Savings Plan

The New York 529 College Savings Plan is an easy and affordable way to save for tuition, certain room-and-board costs, books and other qualified expenses. Anyone can invest in the plan including parents, grand parents, family and even friends.

What Are the Key Benefits?

There are many benefits to investing in a NY529 College Savings Plan starting with the fact that you’re investing in the future of a child that you love. With the ever rising costs of college tuition, having that extra contribution towards their education will alleviate some of the stress and help them to focus on the right college for them as opposed to the right one for their pockets.

NY529 College Savings Plan

Some of the other benefits include:

  • Open An Account with As Little As $25: You don’t have to make a large monetary donation to open an account. A small investment is all you need to get the account started.
  • Get Federal and State Tax Benefits: There is a state deduction for New York taxpayers of up to $10k on your contributions and there is no federal or state taxes on investment earnings or on qualified withdrawals.
  • Investment Choices: There are a variety of options including 3 age-based options and 13 individual portfolios. You can learn about these options in more detail by speaking to a NY529 representative.
  • College Choices: The savings plan can be used at eligible 2 or 4 year colleges, vocational/technical schools and even graduate schools.

How Can I Get Started?

NY529 College Savings Plan

Opening an account is easy. You can visit NYSaves.org for more information and to get started or you can call and speak to a live person at 877-697-2837 (Mon – Fri, 8am – 9pm).

Make sure you follow them on social media for the latest information and tips: Facebook, Twitter, YouTube

How did you pay for college? Did your parents save or did they have to take out loans?

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P.S. Special thanks to MomTrends.com and Vanguard for the invite to this amazing event. Though this post is sponsored all opinions and thoughts are all mine. Now let’s look at all the great food that was cooked up.

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  • Those rising costs can be so daunting, but I love how 529s make saving seem more doable!

  • Jay Colby

    This such an important life skill that kids should be introduce to at a early age. This sounds like an special event that can help empower a lot of kids.

  • Sondra Barker

    Such a great program this is! I wish more people began saving for their children’s college education during their younger years. Education is extremely important and these thing inspire kids to want to attend college.
    http://prettyfitfoodie.com/

  • Everyone should look into their state’s 529 plan. Open it as soon as you have your child!

  • Yuen Mi

    So many great benefits. Never heard of this. I will bookmark this for later reference when I share it with my mother friends.

  • While I appreciate the benefits, what are the drawbacks? I can only guess that there is some sort of penalty if your child decides not to go to college or that there may better investment opportunities but your funds will be limited to the 529 investment options. Even with the drawbacks though, saving for college should be a priority because the costs are not coming down anytime soon.

  • Rebecca Swenor

    My parents actually took out a loan on their house for me to go to college. I was the first out of us five kids that went. It really is important to start a college fund for your children when they are very young. This sounds like a great plan for parents to give their children. Thanks for sharing the information.

  • Angela Milnes

    Such a good post, This is the first time that I heard this Plan and I really love the good benefits. Glad you share this with us

  • I dont have kids yet but I am often thinking about the financial future with children. Its really good to think about helping them with college because more often than not a lot of kids are left without help and then end up in major debt.

  • Katrina gehman

    looks like a great program! i have a few friends in NY, i’ll have to share this with them