U.S. Senator Charles E.

Schumer launched a push to enable families to make tax-free

withdrawals from their 529 College Savings Plans to purchase computers. Currently, families
can only withdraw funds from 529 accounts tax-free in order to pay for college costs and a
select number of college-related expenses like textbooks, but they cannot get that same tax
advantage if using the funds to purchase a computer. Schumer said having a computer is a
necessity for todays college student, and therefore should be a qualifying expense from the over
800,000 529 accounts in New York. Schumer announced he is pushing a bi-partisan bill that
would not only open up 529 accounts to purchasing computers without a federal tax hit; the
legislation also eliminates unnecessary paperwork for 529 account holders and gets rid of steep
financial penalties for students that put school on hold. Schumer said that all-in costs for
computers, software and related technology can be $2,000 or more a major expense for a
middle-class family and if this bill becomes law, families could save hundreds of dollars off of
their tax bill for this major purchase.

Estimated Number of 529 College Savings Accounts across Upstate New

York: 344,762 *

Capital Region
COUNTY
Albany
Columbia
Fulton
Greene
Montgomery
Rensselaer
Saratoga
Schenectady
Schoharie
Washington
TOTAL

Estimated Number of 529

College Savings Accounts
12,577
2,557
2,242
1,990
2,050
6,570
9,197
6,381
1,308
2,592
47,464

Central New York

COUNTY
Cayuga
Cortland
Lewis
Madison
Oneida
Onondaga
Oswego
TOTAL

Estimated Number of 529

College Savings Accounts
3,265
2,012
1,115
2,973
9,596
19,243
4,978
43,182

Rochester Finger Lakes

COUNTY
Genesee
Livingston
Monroe
Ontario
Orleans
Seneca
Wayne
Wyoming
Yates
TOTAL

Estimated Number of 529

College Savings Accounts
2,442
2,658
30,797
4,482
1,735
1,454
3,799
1,706
1,033
50,106

Western New York

COUNTY
Cattaraugus
Chautauqua
Erie
Niagara
TOTAL

Estimated Number of 529

College Savings Accounts
3,237
5,469
37,796
8,795
55,297

Southern Tier
Estimated Number of 529
College Savings Accounts
1,979
8,114
3,635
2,036
1,914
2,531
754
4,049
2,061
4,259
31,332

COUNTY
Allegany
Broome
Chemung
Chenango
Delaware
Otsego
Schuyler
Steuben
Tioga
Tompkins
TOTAL

Hudson Valley
COUNTY
Dutchess
Orange
Putnam
Rockland
Sullivan
Ulster
Westchester
TOTAL

Estimated Number of 529

College Savings Accounts
12,195
15,433
4,097
13,185
3,148
7,432
39,800
95,290

North Country
COUNTY
Clinton
Essex
Franklin
Hamilton
Herkimer
Jefferson
St. Lawrence
Warren
TOTAL

Estimated Number of 529

College Savings Accounts
3,351
1,590
2,125
194
2,637
4,909
4,600
2,685
22,091

Methodology
Estimated population of New York State residents (19.75 million) was based on the U.S. Census
Bureaus estimated 2013 population from the 2010 census report.
Total number of persons on either of New York's 529 College Savings Program Direct Plan or
New Yorks 529 College Savings Program Advisor Plan (811,426) was provided by the College
Savings Plans Networks (CSPN) June 30, 2014 report, 529 Plan Data.
* Upstate New York estimated county totals were compiled manually by Schumer staff based on
the U.S. Census Bureaus estimated 2013 population total for each county in Upstate New York.
The percentage of the entire New York State population that each county constitutes was
determined by dividing each countys total population by the total population of New York State
and multiplying by 100. This percentage was then extrapolated over each Upstate New York
county to determine each countys percentage of the entire New York State population. Using
each countys percentage of the New York State population was then used to determine the
estimated number of 529 savings accounts in each county. By multiplying each county
population percentage by the total number of 529 accounts across New York State (811,426)
and dividing by 100, one can extrapolate the estimated total number of likely 529 account
holders in each county and, subsequently, by region.