News & Press Releases
Edmond family wins $5,529 for newborn’s college savings through Oklahoma 529 College Savings Plan
OKLAHOMA CITY — Edmond parents, Rachel and Shaun Hittle, have an outstanding start to their daughter’s Oklahoma 529 College Savings Plan account. Their daughter, Lucy, was randomly selected as the 2019 Newborn Sweepstakes winner out of 861 entrants, receiving $5,529 toward her OCSP account. INTEGRIS Health Edmond, the hospital where Lucy was born, also received a donation of $1,529.
State Treasurer Randy McDaniel and OCSP officials congratulated the Hittle family via phone call after receiving their check.
As first-time parents, both Rachel and Shaun noted their immense desire to secure a lasting future for their daughter and how college sets her up for success.
“Education is a platform that puts your future in place,” Hittle said. “Our ultimate goal is the ability to pay for her college, as my husband and I are still paying off our own student loans. And when you become a parent, you really want things for your child more than you want things for yourself.”
According to educationdata.org, the average total price of four-year degree is around $122,000. OCSP’s Newborn Sweepstakes outlines the importance of saving for college early and encourages families to do so. OCSP accounts are designed to perform better long term, creating an additional incentive for parents or grandparents to start saving for a child’s education the moment they are born.
“There are so many important moments during the first few years of having a child,” said State Treasurer Randy McDaniel. “But one milestone I encourage parents not to overlook is opening and contributing to an OCSP account. With the goal of providing Oklahomans with financial freedom and relieving student loan debt, early OCSP account contributions will help children achieve both.”
Not only does OCSP place a high priority on education, but many hospitals do the same, including INTEGRIS Health Edmond, where Lucy was born.
“We at INTEGRIS Health Edmond strive to provide every parent with 529 information,” said Evelyn Radichel, MS, RN-BC, Administrative Director Surgical and Women’s Services of INTEGRIS Health Edmond. “We know the importance of a good education and want to emphasize planning for the future to all our new parents. We are excited that one of our babies has been chosen to receive this sweepstakes money, which will give her a head start in life.”
The Hittles are the 10th family to win the annual statewide Newborn Sweepstakes. Since 2010, OCSP has awarded more than $49,000 to Oklahoma families through the sweepstakes, and OCSP has donated more than $13,000 to Oklahoma hospitals with the promotion.
The Newborn Sweepstakes continues this year, with entries now being accepted via the OCSP website. Parents or grandparents of a child born in 2020 will have until April 14, 2021, to enter. No purchase is necessary. Void where prohibited. Sponsored by OCSP. Funding for prizes comes from the OCSP marketing budget. 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 March 31, 2020, combined assets in both plans exceeded $908 million. 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. Limitations may apply.*
*To learn more about the Oklahoma 529 College Savings Plan, its investment objectives, tax benefits, risks and costs, please see the Disclosure Booklet at ok4saving.org. Read it carefully. 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.
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.
For more information, contact:
Tim Allen, Treasurer’s Office, (405) 522-4212
Addie Plank, Koch Comm, (405) 570-2959