We strive to make things easy to manage and easily understood.
In the old days, 529 College Savings Plans required endless paper forms, the ability to translate financial mumbo jumbo and the patience of a lifetime just to get set up. Dare we say, some plans even to this day haven’t evolved much. But we’re different. The Oregon College Savings Plan makes managing your account simple and intuitive.
Manage things online.
Every aspect of your account (save for a few administrative things) can be managed online. Everything is securely stored and easily updated. You can change your email address or password, make updates to your profile, access your transaction history and tax statements, see your savings progress at-a-glance and more.
It’s easy to add money to your account. You can link one or more bank accounts to add funds anytime and make contributions as low as $5. You can set up payroll deductions or automatic monthly contributions. And you can even accept gift contributions.
When you need to make a withdrawal from your account for a qualified expense, you can either request a check, transfer funds to your bank account or even send funds directly to a school. The lowest amount you can request at a time is $5, unless you’re withdrawing the full amount from your account. Transfers usually take around 2-7 business days to complete. (Note, withdrawals not made for qualified expenses may be subject to state and federal tax penalties.)
Make changes with ease.
It’s easy to make updates to your account if your plans or goals change. You can adjust your investments up to twice a year. You can transfer your account to another eligible student if there are funds left over in your beneficiary’s account after college. And if your beneficiary gets a scholarship, you can withdraw your contributions up to the amount of the scholarship without a penalty or additional tax.
Adjust your investments.
Did your savings strategy change? Our investing dashboard allows you to adjust or change your investment selections up to twice a year.
Roll over funds from another 529 College Savings Plan account.
If you wish to roll over funds that you have in another 529 College Savings Plan account (be it an Oregon College Savings Plan account or an account from another state), you can do so once within a 12-month period without incurring federal income tax, so long as the Oregon College Savings Plan account you’re rolling the funds into is for the same beneficiary or family member of the beneficiary. Worth noting, the plan from which you are transferring funds may have different features and fees, so it’s best to consult your tax advisor and your other 529 College Savings Plan manager before you initiate your rollover.
Set up effortless gifting.
Birthday coming up? Trying to reach your savings goal faster? We make it easy for you to receive gift contributions to your Oregon College Savings Plan account by allowing you to create a custom gifting page. Friends and family can contribute directly to your account, and you can even share your page on social media to spread the word and grow your savings.