No enrollment fee; 0.12%–0.16% expense ratios· #2
Open Account →New York State Higher Education Services Corporation
New York 529 Direct Plan
Vanguard index funds with a meaningful NY tax break
For New York families, the Direct Plan is a near-perfect combination: Vanguard's rock-bottom index fund fees, a valuable state tax deduction, and a simple interface. The $10,000/$20,000 annual deduction alone can save a family in the 6% NY bracket $600–$1,200 per year.
✓ Pros
- Vanguard index funds with some of the lowest expense ratios in the country
- NY state tax deduction up to $10,000/year ($20,000 for married filers)
- Simple, clean investment options — easy for any investor to understand
✕ Cons
- Non-NY residents get no state tax benefit
- Investment options more limited than Utah My529
Scores
Overall
9.2
Safety
9.4
Value
9.3
Ease
9.3
Quality
9.2
Specifications
annual Fees0.12%–0.16%
minimum Contribution$1
open To All Statestrue
morningstar RatingGold
tax DeductionNY residents: up to $10,000/$20,000
9.2
out of 10
#2 Best for New York Families
No enrollment fee; 0.12%–0.16% expense ratios
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