More Saving, Less Borrowing with NY 529 Direct College Savings Plan! #NY529EDU

NY 529 Direct College Savings Plan

This is a Sponsored Post, however all opinions are my own!

Let me start off by explaining the title of this post. We were invited to an incredible event at the Intrepid down by Chelsea Pier 92 to learn more about the NY 529 Direct College Savings Plan. One of the speakers mentioned that $1 Saved is way less expensive than a $1 borrowed from a loan because it’ll cost you that $1 plus interest to pay it back! Ever since hearing those words, I’m much more cautious about the money I spend.


When I was in High school, my mother opened up a NY 529 Direct College Savings Plan for me. You’re probably thinking “Wow, High school? 4 years is not enough time to save for college.” You are wrong. It may not cover a full tuition or even half, but that wasn’t our goal. Our goal was to pay for books, transportation, supplies, and some part of the semester tuition. I am so happy that the NY 529 Direct College Savings Plan allows you to set up your account the way you want for what your family needs.

For those who don’t know, a 529 is a Direct College Savings Plan generally sponsored by your state. Many states offer the 529, but all have different rules. What stays the same is that it is meant to help you get ready for college. It can be used to pay tuition at a Two or Four-year University, accredited vocational school, or postgraduate program, as well as books, supplies or any other relevant expenses. Anyone can open up and/or contribute to a 529. Yes, Parents, grandparents, relatives, friends…ANYONE.


The account owner (You) simply picks the investments, assigns the beneficiary, and determines how the money is used. As an added bonus, If you are a New York State Taxpayer with a NY 529 Direct College Savings Plan, then you will benefit from a state tax deduction come tax time. Opening a 529 will not only help with your financial planning, but it’ll also allow your children to fulfill their dreams without the stress of borrowing money to further their education.


Fast Forward: Your 1st child who has a 529 is done with college or gets offered a full ride scholarship to attend the school they want to go to, but you have a 2nd child. NY 529 Direct College Savings Plan makes it super simple to switch beneficiaries! So the money that your 1st child doesn’t need can now be used for your 2nd child’s education. Don’t have a 2nd child, but want to go back to school? No problem. YOU now become the beneficiary.

I attended college for a few years and used a lot of my NY 529 Direct College Savings Plan funds to help pay for school, books, laptop, etc. I stopped when I had my daughter and although I plan to go back, I was fine with my mother switching the beneficiary over to my Baby. She won’t be a baby for long so it’s never too early to start planning for her future. As of right now, I believe she wants to be a Doctor (because she LOVES to give you a checkup) and a Lawyer (because she can bamboozle pretty much anyone and talk her way out of a Time-out).

Please note that your child can attend college ANYWHERE and be able to use their 529 savings. Your child’s ability and knowledge is forever growing, so don’t ever put a pause on it by not having the funds to send them off to college. Start Today with Only $25! Check out their SITE for more information and let us know if You’ve opened your NY 529 Direct College Savings Plan account yet?