New Yorkers can now deposit their tax refund check directly into a college savings account under legislation that was recently signed into law by Governor Andrew Cuomo. The refunds can go into a 529 - accounts which can grow over time and are not taxable, as long as the proceeds are used for college expenses.
For more on 529s and saving for college, WAMC News spoke with Jerry Inglet, Director of M&T Bank's College Financial Literacy Initiative.
