Why Choose NY 529?
Smart, flexible, and low-cost savings for education.
The NY 529 Direct Plan offers flexible contributions, low fees, trusted management, and tax advantages—with no minimums—whether you're planning for college, trade school, or beyond.1
Unlock Tax Benefits with NY 529.
The NY 529 Direct Plan offers potential tax benefits—like tax-deferred growth and possible state deductions—that make saving simpler and more flexible.
Have questions about taxes? Visit our FAQs page.
Tax-Deferred Growth
Any growth of your contribution is tax-deferred at the federal and state level, which may help your savings grow over time.2
State Income Tax Deduction
New York taxpayers can deduct up to $5,000 annually—or $10,000 if married filing jointly.1
Tax-Free Withdrawals
Use savings for qualified education expenses without paying federal or New York State income taxes.2
Federal Gift Tax Incentive
Contribute up to $19,000 per year ($38,000 if filing jointly) or a single $95,000 contribution ($190,000 if filing jointly) as if it were made over a five-year period, without federal gift taxes.3
Flexible savings that fit your life.
The NY 529 Direct Plan offers flexible features that adapt to your goals—whether you're saving for college, trade school, or vocational training.
Have questions about saving? Visit our FAQs page.
Fits Many Paths
Use at eligible colleges, grad schools, trade programs, or apprenticeships.
Use for Key Costs
Covers tuition, fees, books, supplies, room, and board. Plus, funds can be used for repayments on qualified education loans.
Work Toward Goals Together
Multiple people can open accounts for the same student.
Start Anytime
No minimum—begin saving with any amount.
Choose How You Save
Contributing to your Direct Plan is easy—with options like payroll deduction, bank transfer, or mailing a check.
Savings That Flex
If the beneficiary doesn’t end up needing the funds for higher education, up to $35K may be rolled into a Roth IRA for the benefit of the beneficiary.4
Be there for every step.
Support their education with flexible, low-cost savings.
Have questions? Visit our FAQs page.
Get Started
A simple way to save for their future.
You want the best for your child, including a strong start in education. With the NY 529 Direct Plan, it’s easy to save for college, trade school, and registered apprenticeships—and reduce the need to borrow later. If plans change, you can transfer funds to another eligible family member. Plus, since a 529 plan is considered a parent asset, it typically has a smaller impact on your child’s financial aid eligibility.
A gift that grows with them.
Watching your grandkids thrive is a gift in itself—and supporting their education can be part of that. With the NY 529 Direct Plan, you can contribute now, open accounts for each grandchild, and stay in control. Plus, giving your grandchild the gift of higher education may also help you reduce your estate and save on estate taxes. You can contribute up to $19,000 per year ($38,000 if filing jointly) or a single $95,000 contribution ($190,000 if filing jointly) as if it were made over a five-year period, without federal gift taxes.3
Support their future, wherever you serve.
The NY 529 Direct Plan offers military families a flexible, low-cost way to save for education—helping cover expenses the GI Bill may not fully cover, like fees, books, and more. Use the GI Bill® Comparison Tool to see where you may have out of pocket costs.
Help families plan for education expenses.
Partner with NY 529 to raise awareness about the importance of saving for higher education. As a trusted community leader, you can support local families by sharing our resources, hosting events, or inviting a representative to speak. Our NY 529 experts are here to support your outreach.
Invite Us to Your EventCommunity Kit Materials
Save smart, no matter where you live.
You don’t need to live in New York to benefit from the NY 529 Direct Plan. Savers nationwide can access low costs and flexible options—with no extra fees for nonresidents.
Contributions to the NY 529 Direct Plan may qualify you for tax benefits in your state.5
Support your team’s education goals.
Offer the NY 529 Direct Plan through payroll direct deposit—at no cost to your company. It’s a simple way to support employees’ education savings (and potentially attract and retain top talent) while complementing existing benefits like a 401(k) or 403(b).
More Employer Details
Partnering with the Best to Help You Save.
The New York State Comptroller’s office provides independent review, analysis and oversight of the state’s fiscal operations. It manages the state's pension fund, administers the retirement system, returns millions in lost funds, audits local governments, and oversees state contract, payment and accounting functions. A team of 2,700+ public servants, led by State Comptroller Thomas P. DiNapoli, are located in Albany, Binghamton, Buffalo, Glens Falls, Hauppauge, Newburgh, NYC, Rochester and Syracuse.
Learn More
HESC helps New Yorkers access and afford higher education by administering a wide range of programs, including grants, scholarships, and loan forgiveness. HESC services benefit students and families by providing financial support, college planning tools, and guidance—making higher education more attainable and reducing student debt burdens.
Learn More
Vanguard® serves as investment manager for New York’s 529 College Savings Program Direct Plan. Since its beginning in 1975, Vanguard has grown to become one of the world’s largest global investment management companies, with total assets of approximately $9.9 trillion (as of October 31, 2024). Vanguard offers 426 funds worldwide, with 210 U.S. funds designed to help you achieve your financial goals. In addition to low-cost funds, you can take advantage of Vanguard’s extensive array of products and services for retirement, college savings, general investing, and advice and financial planning.
Learn More
Ascensus serves as program manager for the Direct Plan. Our mission as 529 specialists is to make saving easy through accessible and affordable college savings plans. We currently partner with state agencies and 529 plan program managers in 31 states and the District of Columbia, supporting 51 different 529 plans and over 8.5 million 529 college savings accounts with over $290 billion in assets (as of September 30, 2025).
Learn MoreInsights and information to guide your journey.
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Gifts to an NY 529 won’t lose their shine.
If you’re lucky enough to have family members who tend to write checks or send gift cards on holidays and special occasions, you may want to talk to them about how they can have an even bigger impact on your child’s future.
NY 529 Direct Plan can make saving for college easier - even when money is tight.
When the market is going up and down, and you’re wondering what that means for your budget, it is tempting to put off saving for college. Of course you want the best for your children, but it’s hard to save for future plans when current needs are so pressing.
What college really costs–and how much should you save?
There’s no getting around it. College is expensive. It may, however, cost less than you think.
Have questions? We’re here to help.
Whether you’re just getting started or need guidance on your existing plan, our education savings specialists are ready to help. Reach out by phone, email, or mail—we’re here to make saving simpler.
Email Us:
For New York employers:
Find out more about what NY’s 529 Direct Plan can offer you and your employees. Call us at 800-420-8580 on business days between 8 a.m. and 8 p.m. Eastern time.
Email us: employer@nysaves.org
Event request: Complete the Event Request Form
Please note, we are unable to provide account-specific information or process monetary or clerical transactions via email. For assistance with these items, please log in to your account or call 877-NYSAVES (877-697-2837). For your protection, please do not include your account number or any personally identifiable information in your email, as this is not a secure channel. You may review other ways to safeguard your own information by clicking the Security link at the bottom of this page.
1 Contributions of up to $10,000 are deductible annually from New York State taxable income for married couples filing jointly; single taxpayers can deduct up to $5,000 annually. New York State tax deductions may be subject to recapture in certain circumstances such as rollovers to another state's 529 plan, nonqualified withdrawals, withdrawals used to pay elementary or secondary school tuition as described in the Disclosure Booklet and Tuition Savings Agreement. State tax benefits for non-resident New York taxpayers may vary. Please consult your tax advisor about your particular situation. The New York State Department of Taxation and Finance has not yet determined whether withdrawals to pay expanded K-12 expenses and Credentialing Expenses would be New York Qualified Withdrawals or New York Nonqualified Withdrawals.
2 Earnings on nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. Tax and other benefits are contingent on meeting other requirements. Please consult your tax advisor about your particular situation.
3 In the event the donor does not survive the 5-year period, a pro-rated amount will revert back to the donor's taxable estate.
4 Certain restrictions apply. Rollover must be to a Roth IRA maintained for the benefit of the Beneficiary. Rollovers can only be made from accounts open for at least 15 years and cannot include contributions or earnings on those contributions made within the last 5 years. The annual rollover limit is subject to IRA annual contribution limits with a lifetime rollover limit of $35,000. Additional restrictions may apply under federal Roth IRA rules and guidance. Consult your tax advisor prior to initiating a rollover.
5 Please check with your tax advisor regarding eligible state tax deductions for contributions to the NY 529 Direct Plan.