NYC529 Direct College Savings Plan #NY529edu 

25 May

I’ve always dreamed of becoming a lawyer but when my parents divorced and my mother raised my sister and I it wasn’t looking like my dreams were coming true. I didnt want to bother my mother financially because I knew she couldn’t afford it. Even though I worked every summer since age 14 I knew that wouldn’t be enough for college. I didn’t want to take out loans nor have my mother take out loans. 

Great thing about college is you can go anytime. I didn’t go right out of high school, nor did I go to John Jay to study law, but I did go to a community college in my 30’s while pregnant with my third child. I studied radiology. I found out about Pell and Tap, financial aid and grants. I worked at my college and attended classes while receiving a check from working and from Pell and Tap. I used some of the money for supplies, books and transportation. 

I didn’t finish but if I choose to go back I will be even more prepared because I recently attended an event on the Imtrepid with Momtrends and NY 529 Direct College Savings Plan. We heard from a few guest speakers as well as First Deputy, Pete Grannis  who also took a group photo with the kids. I think if my mother knew about this service back when we were babies my sister and I could have attended the college we wanted. 

Now that I’ve heard all it takes is as little as $20 a month for this great NY 529 Direct College Savings Plan my kids will thank me when they’re ready for college. 

*What is a 529 college savings plan you ask?

It’s a type of investment account you can use for higher-education savings. 529 plans are usually sponsored by states.

*What makes these savings so powerful?

Tax savings. Your earnings grow federally tax-deferred, quali ed withdrawals are tax-free, and some states (like New York) have other tax bene ts as well.

You can use the money in a 529 account  to pay for anything that’s considered a qualified higher education expense, including tuition, books, supplies, etc.. Anybody can open a 529 account- parents, grandparents, friends as long as their a US citizen or resident-alien. 

My daughter wants to attend culinary school and I’m glad to hear she can choose from postsecondary trade, vocational schools, two & four year colleges and postgraduate programs. I just might take a few classes myself. My son also is considering culinary school. Whatever they choose the NY 529 Direct College Savings Plan will be there for them. 

I really enjoyed learning about this savings plan and my kids enjoyed touring the Intrepid and getting on the Simulator rides. I also got on one too. I’d like to thank everyone who spoke and for great information. Thanks to Momtrends as always for another fab Saturday event. NY529 was kind enough to contribute $100 each for both of my children toward their college education. For more info visit: http://www.nysaves.org or call 1(877)-NYSAVES



Disclosure: This is a sponsored post. Opinions are mine 100% as always. 

2 Responses to “NYC529 Direct College Savings Plan #NY529edu ”

  1. Nicole Feliciano June 1, 2016 at 11:30 am #

    Very informative post! I would love to have dinner with the future chefs 🙂

    • nilimo72 June 1, 2016 at 12:59 pm #

      You will be the very first guest they have.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: