State Street, New York Life Offer College Plan

September 6, 2001 ( - Schoolhouse Capital LLC and New York Life Investment Management are teaming up to offer a ``Section 529'' college savings plan designed for investors working with financial advisors.
Schoolhouse, a subsidiary of State Street Corporation ,will maintain its program manager role and NYLIM will provide marketing and distribution, with both firms providing investment options.

The product will be branded by both Schoolhouse Capital and New York Life Investment Management. It is expected to be launched in the fourth quarter.