Oklahomans can celebrate National 529 Day this May by taking advantage of a match offer from the Oklahoma 529 College Savings Plan (OCSP). From Monday, May 24 to Monday, May 31, OCSP will offer a $50 match to encourage families to start saving for future education expenses.

New accounts opened with as little as $50 will receive a $50 bonus contribution after setting up a recurring contribution of $25 or more for six consecutive months. Oklahomans can visit ok4saving.org/529day for terms and conditions.1

“National 529 Day brings awareness to a great way of putting aside money for future education expenses,” said State Treasurer Randy McDaniel, board chair for OCSP. “Opening an OCSP account and continuing to make contributions is key to a child’s educational future and will help reduce the need for student loans.”

McDaniel said the 529 Day offer is another demonstration of our commitment to encouraging Oklahomans to invest in this flexible plan that can be used at colleges, universities, technology centers and other qualifying education establishments. He said he hopes many families will take advantage of the $50 match offer, in place from May 24-31.

“This opportunity gives families an extra reason to start saving today,” McDaniel said. “As the cost of college rises, saving now through Oklahoma’s tax-advantaged program is more important than ever.”

For more information about the Oklahoma 529 College Savings Plan or to open an account,

visit www.ok4saving.org or call (877) 654-7284. Funding for OCSP match incentive 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 open and manage their own 529 college savings accounts. The Plan is managed by TIAA-CREF Tuition Financing, Inc. As of March 31, 2021 assets in in the Plan exceeded $1.15 billion.

Any OCSP earnings are federal and Oklahoma income tax free when used for higher education expenses such as tuition, living expenses, books, supplies and fees. Funds may be used at most private or public universities, colleges or career technology centers, nationwide. In addition, up to $10,000 per year may be used for tuition at private elementary and secondary schools.

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 carry forward. Limitations apply.