About the Oregon College Savings Plan
The best way to save for someone's education is to start now.
What's in your child's future?
What you do today can have a huge effect on your child's future. The same is true with
saving money for a child's education. It's never too early to start.
It's a good thing Oregonians have a college savings tool that makes the decision to save
that much easier. The Oregon
College Savings Plan was designed with families like yours in mind.
The Plan's features make it easy to save now and use it later.
- Contributions of up to $2,000 per tax year are deductible on your Oregon state
income tax each year ($1,000 if married and filing separately)
- Earnings in your Oregon College Savings Plan account grow tax-free
- Qualified withdrawals are federal and Oregon state tax free
- Contributions up to $55,000 may be excluded from federal gift tax pro rata over a
five-year period
- Contributions are considered removed from your estate for tax purposes, while as
the account owner, you still retain control of the account
The Plan is easy and affordable for almost anyone to use.
- Start building your account with an automatic investment plan or payroll direct
deposit of just $25
- Low initial contribution of only $250 is required to open an account, and it's
waived with an automatic investment plan
- Contribute up to $250,000 for a single beneficiary
- Use check, money order, electronic funds transfer, Federal Wire, automatic
investment, or payroll deduction to build your plan
To find out more about the plan, we invite you to visit the
State of Oregon site for the
College Savings Plan. If you have questions about managing this or other educations
savings tools, please contact one of our financial
consultants.