Barclay Applauds Changes To New York's College Savings Plan
May 11, 2012
Assemblyman Will Barclay (R,C,I-Pulaski) was pleased by the recent announcement that New York’s 529 College Savings Program Direct Plan now has lower fees for individuals participating in the program. The program also will institute further changes such as expanding access to investment options for potential investors, as announced by the State Comptroller earlier this week. “The 529 Savings Plan is a great way for families to save for a child’s education, and the changes to the program make it even more appealing than before,” said Barclay. Changes include lower fees and enhanced services. New York’s 529 College Savings Program Direct Plan is the largest college savings program in the nation, with more than $11 billion invested in more than 575,000 college savings accounts. Participants can save for family, friends or themselves; a 529 plan provides a number of tax benefits to those saving for college. For information, call their toll-free hotline at 1-877-NYSAVES or visit www.nysaves.org.