Oklahoma 529 offers same flexible education savings program that helps Oklahoma families prepare for their chosen education path
State Treasurer Randy Mc-Daniel today unveiled a new name, branding and website for the state’s direct-sold 529 plan. The plan formerly known as the Oklahoma 529 College Savings Plan (OCSP) will be called Oklahoma 529.
Treasurer McDaniel said Oklahoma 529 offers the same flexible education savings program and tax benefits for Oklahoma families while more accurately reflecting the expanded uses of an account’s funds to include education paths of Oklahoma students and their families.
“Oklahoma 529 accounts now have broad educational uses that go beyond the traditional college experience. It helps Oklahoma families save early for their child’s future education expenses – no matter the path they choose – all while saving on their taxes today,” said Treasurer McDaniel. “I encourage Oklahomans to take a look at the new website, Oklahoma529. com, and learn more about the Plan’s expanded uses.
Introduced in April 2000, Oklahoma 529 is well-known for helping families save for college tuition and expenses. However, recent expansion of its uses enables Oklahoma 529 accounts to help pay for tuition and fees at Oklahoma CareerTech centers, graduate and professional schools as well as K-12 tuition up to $10,000 annually per student. Additionally, Plan funds can be used toward expenses associated with apprenticeships, Oklahoma Concurrent Enrollment and student loans.1 Along with the new name, Oklahoma 529 has a new logo and website. The new site offers easier navigation to learn about investment options and benefits, find answers to savings questions, access tools to help Oklahoma families in their decision- making as well as resources for Oklahoma financial professionals and employers.
“The new site and content along with our READYSAVE 529 App give Oklahomans the tools needed to research, open and manage their 529 accounts in ways that meet their education savings goals,” Mc-Daniel said.
Existing account owners will not see a change to their accounts and do not need to take any action because of the name change, he said.
For more information, visit Oklahoma529.com. No state funds were used for the name change, new brand and website.