Dinapoli: Start a College Savings Plan Now

Dec 14, 2012

New York State Comptroller Thomas DiNapoli says starting a college savings plan could make for a good gift during this holiday season. 

DiNapoli says studies show kids are more likely to attend college when the money is readily available.

"It's never too soon to start and put money aside to save for a college education," DiNapoli says. "And by investing now that money will only grow and compound over time. These are the holidays and people are always looking for new gift ideas."

The Comptrollers Office says if parents, friends or family open a New York 529 College Savings Program account - with at least $25 - before the end of the year, they can receive up a $10 thousand deduction on their state tax return.