Make your dream come true with Oregon savings plan!
Make your dream come true at Oregon College savings plan (Photo: Oregon Capital Chronicle)
You are one step closer to making your dreams come true
The Oregon State Treasury’s program, the Oregon College Savings Plan (OCSP), is promoting the importance of saving for children’s future education by offering incentives to families who open an OCSP account. Thanks to the success of its community outreach programs, Baby Grad and Kinder Grad, over 17,000 accounts have been opened for Oregon children, with $146 million saved for higher education expenses.
These initiatives were introduced in 2018 and 2019, respectively, and have played a significant role in motivating families to prioritize their children’s education. Oregon families can earn a $25 reward by opening an OCSP account for their child before their first birthday or when they start kindergarten. This helps families save for their child’s future education and plan for their success. The average account balance is $8,548.
Research conducted by Washington University in St. Louis has shown that the likelihood of attending college is 2.5 times higher for students who have a college savings account, irrespective of the balance in the account, compared to those who have not saved anything.
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Make your kid’s and your dream come true
Following a year of great performance for OCSP, which received more than $261 million in contributions to approximately 135,000 accounts from throughout the state, Baby Grad and Kinder Grad have been a success. OCSP will end 2022 with $2.58 billion in assets under administration.
A program of the Oregon State Treasury called the Oregon College Savings Plan (OCSP) aids families in setting aside money for future educational costs. To assist individuals in preparing for the costs of post-secondary education and training, OCSP provides a variety of investment opportunities and tax advantages. Savings accumulate tax-free and can be used to fund a variety of expenses, including education, certification programs, trade school, and more. Starting up is simple at OregonCollegeSavings.com.
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