Many parents and families today worry their child or grandchild will begin their adult lives burdened with crippling school loan debt. But it doesn’t have to be that way. Whether your son or daughter is getting ready for pre-school or high school, the time to figure out your options and make a plan is now. Find out how Oklahoma 529 College Savings Plan (OCSP) can be a part of your college savings strategy.
A Message from: Randy McDaniel
Oklahoma State Treasurer
Dear Oklahoma Resident,
Saving for a child’s education is a key goal for most families. With the rising cost of tuition, it’s more important than ever to have access to smart financial options that will help you pay for the cost of a quality education.
That’s why we’re proud to sponsor the Oklahoma 529 College Savings Plan (OCSP). As Oklahoma’s official 529 education savings plan, it offers state tax advantages available only to Oklahoma residents. Moreover, the OCSP makes it easy for families looking to save for education expenses. Below are some of the advantages:
Low Minimums. Start saving with as little as $100, and make additional contributions of $25 or more whenever you like.
Tax Benefits. In addition to an Oklahoma income tax deduction, earnings can grow deferred from federal and state income tax, which can really help your savings add up. Withdrawals are also free from federal and state tax when used for qualified education expenses.
Flexibility. Qualified expenses include not just tuition but certain room and board costs, computers and related technology expenses, books, fees, and equipment. Plus, funds can be used at any accredited university, college or vocational school worldwide, as well as for K-12 tuition.
I encourage you to find out more about OCSP here on this site. If you have additional questions, please contact us.
Thank you for your interest. I hope you and your family will choose OCSP to invest in your child’s future.