New York 529 College Savings Plans – NY Saves

New York 529 College Savings Plans

5 Extra Sources of Income for Poor College Students

About: New York has two 529 savings programs to choose from – a direct-sold plan featuring Vanguard mutual funds, and an advisor-sold program featuring funds from JPMorgan and SSgA.

Both New York 529 plans are managed by Ascensus College Savings. New York’s 529 College Savings Program — Direct Plan features age-based and static portfolio options utilizing Vanguard mutual funds.


Phone #: 1-877-697-2837

Investment Options: The Age-Based Option offers a choice among 3 different risk levels (Aggressive, Moderate, or Conservative) each containing 5 portfolios of underlying mutual funds. They also offer 5 multi-fund portfolios (Aggressive Growth, Growth, Moderate Growth, Conservative Growth, and Income), and 7 individual fund portfolios, and the Interest Accumulation portfolio. Investments are managed by Vanguard mutual funds.

Tax Benefits: Contributions to a New York 529 plan of up to $5,000 per year by an individual, and up to $10,000 per year by a married couple filing jointly, are deductible in computing New York taxable income. Only contributions made by the account owner, or if filing jointly, by the account owner’s spouse, are deductible. The contribution deadline is December 31 postmark.

State Residency Requirements:  No state residency is required to participate in New York 529 College Savings Plans.

Saving for College with Upromise

UpromiseSave for college with Upromise is a service that helps individuals save money to pay for college or to pay down existing student loan debt.

Upromise is a great way to save through partnerships with retailers. Similar to a cash back rewards card, this plan puts rewards from retailers into an account that you can use to save money for school or paying down current Sallie Mae serviced student loans.

Once you join UpromiseSave for college with Upromise, you simply have to shop at eligible retailers. You can shop online and get anywhere from 1$ to 25% back that is credited to your account. There are more than 600 online retailers, including Target and more, which will give you rewards that can be used for college and tuition expenses.

The beauty of the Upromise program is that you save money for college by simply shopping at the normal stores you visit every day. Upromise was created in partnership with Sallie Mae and is designed to help save for education costs. is the smart way to save for your child’s college is the smart way to save for college.