College Savings Program
Contact: Brenda F. Smith (firstname.lastname@example.org)
New York's 529 College Savings Program is designed to help individuals and families save for higher education expenses at public or private colleges and universities, as well as business, trade or other occupational schools in New York, across the country and around the world. New York's 529 is among the best college savings options for New Yorkers, and recent changes have made our 529 Program better than ever, offering you these benefits:
- Tax-deferred earnings
- Qualified Withdrawals that are exempt from federal and New York State income taxes*
- A variety of investment options managed by The Vanguard Group® for the Program's Direct Plan
- An additional set of investment options offered by Columbia Management Group for the Program's optional Advisor Plan, which can be purchased exclusively through financial advisors
Since this program was launched in September 1998, more than 600,000 accounts have been opened by New Yorkers as well as others around the country.
New York's 529 College Savings Program currently includes two separate 529 plans. The Direct Plan is sold directly by the Program. You may also participate in the Advisor Plan, which is sold exclusively through financial advisors and offers investment options that are not available under the Direct Plan. However, the fees and expenses of the Advisor Plan are higher and include financial advisor compensation. Be sure to understand the options available before making an investment decision.
Each of the Direct Plan and the Advisor Plan is described in the current applicable Program Brochure and Tuition Savings Agreement. Accounts are opened by completing an Enrollment Form. All of these should be read carefully before opening an account.
Before you invest, consider whether your or the designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s qualified tuition program.
For more information about New York’s 529 College Savings Program Direct Plan, obtain a Program Brochure and Tuition Savings Agreement at www.nysaves.org or by calling 1-877-697-2837. This includes investment objectives, risks, charges, expenses, and other information. You should read nd consider them carefully before investing.
The Comptroller of the State of New York and the New York State Higher Education Services Corporation are the Program Administrators and are responsible for implementing and administering the Direct Plan. Upromise Investments, Inc., and Upromise Investment Advisors, LLC, serve as Program Manager and Recordkeeping and Servicing Agent, respectively, and are responsible for day-to-day operations, including effecting transactions. The Vanguard Group, Inc., serves as the Investment Manager.Vanguard Marketing Corporation markets, distributes, and underwrites the Direct Plan.
No guarantee: None of the State of New York, its agencies, the Federal Deposit Insurance Corporation (FDIC), The Vanguard Group, Inc., Upromise Investments, Inc., nor any of their applicable affiliates insures accounts or guarantees the principal deposited therein or any investment returns on any account or investment portfolio.
New York’s 529 College Savings Program currently includes two separate 529 plans. The Direct Plan is sold directly by the Program. You may also participate in the Advisor Plan, which is sold exclusively through financial advisors and has different investment options and higher fees and expenses as well as financial advisor compensation.
Upromise, Ugift, and the Upromise logo are registered service marks of Upromise, Inc.
For New York's 529 College Savings Program Direct Plan,
For New York's 529 College Savings Program Advisor Plan, contact your financial advisor.