State Treasurer Randy McDaniel reminds Oklahomans that time is running out to enter the fourth annual Summer Savings Adventure Sweepstakes, which will see one Oklahoma family win $5,529 toward an Oklahoma 529 College Savings Plan (OCSP) account. The deadline to enter is 5 p.m. Wednesday, July 31.
OCSP is working with two Oklahoma City Adventure District Partners, Science Museum Oklahoma and the Oklahoma City Zoo, on the Summer Savings Adventure Sweepstakes.
“Summer is a prime time for families to visit the attractions, and it’s also a great time to make a plan to save for college,” said McDaniel, board chair for OCSP. “Once school is back in session, schedules can get very busy. I encourage families to take advantage of the slower summer months to make a plan to start saving for higher education costs.”
The Summer Savings Adventure Sweepstakes is open to Oklahoma residents who are parents, grandparents or legal guardians who are at least 21 years old and have a child or grandchild 18 years old or younger who is also an Oklahoma resident. One winner will be randomly selected once the sweepstakes closes. Visit www.ok4saving.org/SSA to fill out an official entry form and to view sweepstakes rules. Void where prohibited. No purchase required.
Contributions to an OCSP account are state income tax deductible up to $10,000 per year filing single and up to $20,000 per year filing jointly with a 5-year carryforward. Contributions to an OCSP account are free from federal income tax when used for qualified expenses at accredited universities, colleges or vocational schools nationwide. Up to $10,000 annually can be used toward K-12 private schools across the state. Limitations may apply.
For more information about the Oklahoma 529 College Savings Plan visit www.ok4saving.org or call (877) 654-7284. Funding for OCSP prizes 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 direct their own 529 college savings accounts. The plan is managed by TIAA-CREF Tuition Financing, Inc. Introduced in March 2009, OklahomaDream 529 Plan is offered through financial advisors and is managed by Allianz Global Investors. As of March 31, 2019, combined assets in both plans exceeded $1 billion.