Comptroller DiNapoli explores the benefits of New York's 529 College Savings Program. To learn more about the program, or to open an account, use the links in the right hand column of this page.
College costs are increasing at about twice the rate of inflation. Historically speaking, colleges and universities have increased their fees between 5 percent and 8 percent per year. This means that a public institution charging $13,600 a year (including tuition, room and board) today may see tuition increase to $29,400 or more in 10 years.
The best line of defense against the rising cost of higher education is to start saving early. The New York State 529 Savings Plan is a good way to begin the process of saving for college.
The 529 College Savings Program is a New York State-sponsored plan that helps you save for college tuition, room and board, books, supplies and other qualified higher education expenses. As the State Comptroller, I oversee this plan and am excited to share how this innovative savings tool can benefit you and your family.
Get started by downloading our helpful Fact Sheet and Frequently Asked Questions. You may also open an account directly from the website (www.nysaves.org) or, if you prefer, you may call 1-877-NYSaves toll-free and speak to a customer service representative to start saving for college today.
Getting started early is one of the most important ways you can prepare for your child’s future education. I encourage you to take advantage of this unique program after reading the Program Brochure and speaking to your tax or financial advisor.
Thomas P. DiNapoli