December 1, 2017
OKLAHOMA CITY – State Treasurer Ken Miller, board chairman of the Oklahoma 529 College Savings Plan (OCSP), is encouraging gift-giving Oklahomans with young children or grandchildren to consider the gift of education this year by opening an OCSP account for their loved ones, a news release states.
To make such a gift even more attractive, OCSP is offering a special bonus promotion this year in conjunction with Cyber Monday. New accounts opened from Nov. 25-29 at the special promotional page www.ok4saving.org/give will be eligible for a bonus contribution of $25 from the OCSP. In addition, those who open a new account and also opt to begin an automatic contribution plan will be eligible for another $25 bonus contribution from OCSP, for a total of $50.
Miller noted that only 24.6 percent of Oklahomans had a four-year degree in 2015, compared to the national average of 30.6 percent, according to statistics from the nonprofit Prosperity Now.
College graduates have greater job opportunities and earn substantially more over their lifetimes,” Miller said. “Yet many consistently underestimate how much they’ll need to save to pay for college. Making a plan and committing to even small contributions over time can save college graduates from piles of student loan debt. This is a great chance to get a head-start on saving.”
Parents, grandparents, relatives or friends who are U.S. citizens or permanent residents and at least 18 years old may open an OCSP account on behalf of a beneficiary, and the minimum initial contribution is $100. Once an account is open, anyone can contribute, making the OCSP a great gift idea for all family and friends.
At the OCSP website, www.ok4saving.org, the state’s 529 college savings plan provides gift-givers with an e-gifting option where contributions can be made to an OCSP account online, and “Gift of Education” certificates can be created to show the contribution to a loved one’s account.
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