Does New York have a 529 college savings plan?

The state of New York administers two 529 college savings plans: New York’s 529 College Savings Program – Direct Plan and New York’s Advisor-Guided College Savings Plan. The main difference between the state’s plans is that one is a direct-sold 529 plan, and the other is an advisor-sold 529 plan.

Are 529 plans tax deductible in New York?

New Yorkers can choose to invest in almost any 529 plan, but they are eligible for state tax benefits through an income tax deduction if they use an in-state 529 plan. The state of New York administers two 529 college savings plans: New York’s 529 College Savings Program – Direct Plan and New York’s Advisor-Guided College Savings Plan.

Can I withdraw money from a NY 529 direct plan account?

When you request a withdrawal to pay for qualified higher education tuition, you can have the money sent to yourself, the beneficiary, or an eligible school. However, when you request a withdrawal to pay for K-12 tuition, you can only have the money sent to the account owner.* Open a NY 529 Direct Plan account today by following these steps.