News & Press Releases
Oregon College Savings Plan offers complimentary eGift service; encourages giving a child a gift for the future
SALEM, Ore. – For a truly meaningful gift this holiday season, the Oregon College Savings Plan is encouraging families and friends to open or contribute to a child’s 529 college savings account. The Oregon College Savings Plan makes giving simple, straightforward and secure with its eGift feature, enabling account owners to send gift invitations to family and friends. The Plan also offers downloadable gift certificates for Christmas, Hanukkah and Kwanzaa for those interested in making an unsolicited gift contribution to a loved one’s account.
“Gifts come in many different forms; some are more fun today, but others can be more valuable tomorrow,” explained Michael Parker, executive director of the Oregon College Savings Plan. “The ability to give and receive gift contributions from friends and family through our complimentary eGift service makes supporting a child’s future education a win-win for everyone.”
The Oregon College Savings Plan is a state-sponsored, tax-advantaged 529 college savings plan that is available to any citizen or taxpayer. It offers a variety of low-cost investment portfolios to choose from including age-based, multi-fund, single-fund and guaranteed options.
Anyone with a Social Security or federal tax ID number may open an account or contribute to an Oregon College Savings Plan account, and in certain cases, the contributor can receive state tax benefits to incorporate the gift into their overall estate and legacy planning (consult a tax advisor). An account can be started with as little as $25; any earnings grow free from federal tax, and many states offer a state income tax deduction or tax credit for contributions (limitations apply; see the Disclosure Booklet for details).
The Oregon College Savings Plan also offers certain gift and estate tax planning benefits (consult your tax advisor). Withdrawals are tax-free at both the federal and state level when used for qualified higher education expenses, and saved funds can be used for tuition, required fees, certain room and board costs, books, supplies, computers and related technology costs, including internet access fees and printers. Funds can be used at most accredited colleges and universities in the United States and certain colleges abroad.
For more information about gifting opportunities into the Oregon College Savings Plan, visit www.oregoncollegesavings.com/gift.
About The Oregon College Savings Plan
The Oregon College Savings Plan, which is part of the Oregon 529 College Savings Network, launched in January 2001 and has grown to more than $1.38 billion in assets as of September 30, 2016. The plan is managed by TIAA-CREF Tuition Financing, Inc. For more information about the Oregon College Savings Plan, its investment options and how to enroll, visit www.OregonCollegeSavings.com or call toll free 866-772-8464. Follow the Oregon College Savings Plan on Facebook.com/OregonCollegeSavings and Twitter.com/OregonCSP; all social media platforms are managed by the state of Oregon.
Consider the investment objectives, risks, charges and expenses before investing in the Oregon College Savings Plan. Please visit OregonCollegeSavings.com for a Plan Disclosure Booklet with this and more information. Read it carefully. Investments in the Plan are neither insured nor guaranteed and there is the risk of investment loss.
TIAA-CREF Tuition Financing, Inc., program manager. TIAA-CREF Individual & Institutional Services, LLC, member FINRA, distributor and underwriter for the Oregon College Savings Plan.