Oklahoma 529 College Savings Plan (OCSP)

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Oklahoma 529 College Savings Plan seeks high school senior to map the Road to College

Contest offers one student $5,529 toward their college savings
Jun 15, 2018

OKLAHOMA CITY — State Treasurer Ken Miller today announced the launch of the Oklahoma 529 College Savings Plan’s first Road to College contest. The promotion offers one high school senior the chance to share his or her journey to college with the public through blogs and videos and receive $5,529 for higher education in the process.

Miller, who serves as board chair of the Oklahoma 529 College Savings Plan (OCSP), said he hopes the effort benefits parents of younger children.

“Just like saving for college can be intimidating for many families, the process of applying for college, choosing a school, getting financial aid and more can be overwhelming,” said Miller, who serves as OCSP’s board chair. “As we help families learn about how OCSP can help them save for college, the Road to College promotion gives us the opportunity to help families learn about all of the senior-year milestones on the way to the dorm room. We want to help families pave the way for their children’s success in college.”

To enter the contest, interested high school students who will graduate in the spring of 2019 should create an audition video, no more than 90 seconds in length, explaining why they should be chosen. Videos can be uploaded to the OCSP website. OCSP officials will select finalists and then ask OCSP’s Facebook fans to vote on their preferred video.

The chosen student will produce one blog post or video blog post each month from August 2018 to August 2019, sharing the story of their senior year of high school and their preparation for college. Potential posts might include campus visits, tips and tricks for college applications, shopping for the dorm room and more.

“We want our winner to give parents of younger children a real sense of what senior year in high school is like so they know the right turns to make along the way,” Miller said. “It’s the final leg of a journey to college and an incredibly busy time. Senior year arrives before you know it. Just like saving for college, early preparation is key.”

The contest is open to OCSP account beneficiaries. Interested non-account owners can open an OCSP account for as little as $100. Contest entry, official rules and additional information are all available at www.ok4saving.org/RoadtoCollege. Enter by July 6, 2018. Facebook voting will take place from July 11 to July 18.

OCSP serves almost 30,000 account owners with more than $850 million in college savings assets. OCSP account owners make an average monthly contribution of $269 to their accounts. (Data through 12/31/17.) For more facts and figure about how Oklahomans are saving for college, visit www.ok4saving.org/documents/OK_infographic_may2018.pdf.

For more information about the Oklahoma 529 College Savings Plan, visit www.ok4saving.org or call (877) 654-7284. Funding for OCSP prizes comes from the marketing budget of the Oklahoma 529 College Savings Plan; no state funds are used.

About the OCSP

Introduced in April 2000, the Oklahoma 529 College Saving Plan (OCSP) is Oklahoma’s direct-sold 529 college savings plan. It is designed for families who want to direct their own 529 college savings accounts. The plan is managed by TIAA-CREF Tuition Financing, Inc. Introduced in March 2009, OklahomaDream 529 Plan is offered through financial advisors and is managed by Allianz Global Investors.  As of May 31, 2018, combined assets in both plans exceed $1 billion.

Oklahoma taxpayers may deduct, from their Oklahoma adjusted gross income, up to $10,000 in contributions to the Oklahoma 529 College Savings Plan for individual taxpayers and up to $20,000 for taxpayers filing a joint return with a five-year carryforward. Read the Disclosure Booklet carefully.  

Consider the investment objectives, risks, charges and expenses before investing in the Oklahoma College Savings Plan. Please visit www.ok4saving.org or call toll-free 1-877-654-7284 for a Plan Disclosure Booklet containing this and more information. Read it carefully.

Check with your home state to learn if it offers tax or other benefits such as financial aid, scholarships and protection from creditors for investing in its own 529 plan. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss.

Consult your legal or tax professional for tax advice, including the impact of the new federal tax changes.If the funds aren't used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply.  

Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss.
TIAA-CREF Tuition Financing, Inc., Program Manager. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA and SIPC, distributor and underwriter for the Oklahoma College Savings Plan.

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