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The NY 529 Direct Plan, also known as New York 529 Plan or NY Saves, is a tax-advantaged savings plan designed to help families save for future college costs. It allows investors to grow their savings tax-free and withdraw them without federal tax penalties when used for qualified education expenses. While 529 plans are popular college savings vehicles, whether they are the best investment depends on individual circumstances. Opening an NY 529 Direct Plan account is straightforward.

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