How 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
The pint sized chefs gathered in the kitchen after crafting their unique hats where they learned to make garlic knots, pasta and cupcakes.
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?
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.
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?
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).
How did you pay for college? Did your parents save or did they have to take out loans?
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.