350 families have entered the opportunity to win a $100 Oregon College Savings Plan account
Designed to help people save for education, Oregon College Saving Plan successfully completed the school-based outreach program, Be College Ready, for the 2018-2019 school year, announced by Oregon State Treasurer Tobias Read. Wrapping up its second full year as a statewide program since the 2015 launch of the pilot, Be college Ready stepped toward its goal of reaching every elementary-aged student in Oregon and their families. Currently, the program has gripped with more than 80 elementary schools in over 40 school districts across the state participating.
What makes this plan so unique?
Switching to the new plan manager, Sumday Administration, LLC, will allow the program to offer more robust investment options, a more intuitive online experience, plus more innovative account features.
The Be College Ready program aims to educate families about the value of saving for higher education early in a child’s life, providing an easy way to begin that saving journey through the Oregon College Saving Plan.
Through the program, elementary school teachers and administrators are able to distribute free school supplies and information to parents about making higher education expenses more affordable. The recent graph shows the program served more than 34,000 families with almost 5,500 of those from Spanish speaking families.
The friendly-age participation
Parents, grandparents, other families, and friends – anyone who is a U.S. citizen or resident with a Social Security number or tax ID can open, or be the beneficiary of, an Oregon College Savings Plan account.
As part of the program, parents with an elementary-aged child has the opportunity to win a $100 Oregon College Savings Plan account. More than 350 families have entered through sweepstakes benefiting children with one hundred awards in each congressional district.
Over the last year, there was an increase in account openings of 8 % and a 9 % increase in new account contributions, totaling more than $38Min the participating districts alone.
Chairs the Oregon 529 Savings Board, State Treasurer Tobias Read said, “We will continue investing in programs that increase awareness of college saving opportunities statewide—prioritizing outreach to underserved communities and making it easier for them to save.” “My goal is to make sure every Oregon child is saving for college so that nothing stands in the way of their dreams,” he expressed.
