NY's 529: Plan for Your Child's Future
By Rachel Kapur
April 28, 2017
April 28, 2017
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Even before that little bundle of joy comes into your life, you think about their future and worry about all the upcoming expenses. Raising a child is expensive, as babies they go through diapers, formula, clothing, etc. as fast as you buy them. Then as they get older the expenses shift to things like clothes, books, cars, and finally college. Saving money for all of these future expenses can be a lot to worry about. You want the best for your child but you need to be able to afford it.
With as little as $25, you can start planning for your child's future with NY's 529 College Savings Plan! The savings account is tax-deferred and qualified withdrawals are tax-free which makes using this account worry-free. |
Money can be deducted directly from your paycheck which makes using this account hassle-free. When it comes time to use the money in the account, your child can use the money to attend college in any state, not just the state sponsoring the NY529 plan, and your child can attend any eligible higher-education institution, not just a 4-year college or university. This includes vocational and trade schools, as well as community colleges and graduate schools. The money can also be used for any accredited international college as well.
If your child ends up getting a scholarship you have nothing to worry about because the funds can be used for anything that’s considered a qualified higher-education expense, including tuition, books, supplies, equipment, expenses for the purchase of certain computer equipment, software, and computer-related services and certain room and board fees. The account can also be transferred to other siblings or relatives. One of the best advantages of the account is that friends and family can contribute to your child’s NY529 account for special occasions like a birthday or holidays by using Ugift.
With NY's 529 College Savings Plan you can feel secure in knowing that your child's education will be taken care of. With so many benefits and such a low starting balance there is no reason not to start an account today! For more information about New York’s 529 College Savings Program Direct Plan, obtain a Disclosure Booklet and Tuition Savings Agreement at www.nysaves.org or by calling 1-877-NYSAVES.
This is a sponsored post. As always, all opinions are our own.
If your child ends up getting a scholarship you have nothing to worry about because the funds can be used for anything that’s considered a qualified higher-education expense, including tuition, books, supplies, equipment, expenses for the purchase of certain computer equipment, software, and computer-related services and certain room and board fees. The account can also be transferred to other siblings or relatives. One of the best advantages of the account is that friends and family can contribute to your child’s NY529 account for special occasions like a birthday or holidays by using Ugift.
With NY's 529 College Savings Plan you can feel secure in knowing that your child's education will be taken care of. With so many benefits and such a low starting balance there is no reason not to start an account today! For more information about New York’s 529 College Savings Program Direct Plan, obtain a Disclosure Booklet and Tuition Savings Agreement at www.nysaves.org or by calling 1-877-NYSAVES.
This is a sponsored post. As always, all opinions are our own.