Oregon College Savings Plan and ABLE Savings
Attend a Financial Beginnings class and receive a $50 benefit!
Parents and guardians who go through an in-person Financial Beginnings course or complete one of our virtual courses on Financial Beginnings Online are eligible to earn a $50 benefit that can be applied towards a new Oregon College Savings Plan (OCSP) 529 Savings Plan account AND a $50 benefit for a new ABLE Savings Account. Eligible participants will receive a promo code that can be applied to their accounts upon account creation. Promo codes can only be used for new OCSP and ABLE accounts.
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Participants of in-person classes will receive instructions on how to access their promo codes during the class.
What is the Oregon College Savings Plan?
The Oregon College Savings Plan is a 529 College Savings Plan designed to help people in Oregon (and outside) save for their dependent's education. 529 plans are tax-advantaged savings accounts designed to be used for the beneficiary's education expenses. Unlike a traditional savings account, a 529 plan is put into investment vehicles designed to earn interest at a higher rate and contributions to your OCSP account can earn you a tax-credit up to $360!
When it's time to expense your child's education, your OCSP funds can be used for tuition at any accredited institution, including universities, community colleges, trade schools, apprenticeships, and certification programs in the U.S. (and also some abroad). You can also pay for books, computers, materials, and room and board - all tax-free.
The earlier you start to save, the greater the payoff. Use OCSP's savings calculator to see how your contributions add up over time: https://www.oregoncollegesavings.com/save-smart
Learn more about the Oregon College Savings Plan
What is an ABLE Savings Account?
ABLE Savings Accounts are special investment accounts that allow individuals with eligible disabilities to save for their everyday needs, invest in a tax-free account, and prepare for the future without losing their state or federal benefits. The state of Oregon established the Oregon ABLE Savings Plan to support eligible residents and their families, and provide resources to help them reach their financial goals.
Who is eligible for ABLE Savings Accounts?
Anyone living in Oregon who developed a qualifying disability before the age of 26 is eligible for an ABLE Savings Account account. Find out if you qualify. If someone can't open an account themselves, an Authorized Legal Representative (also known as an ALR) can do it for them.