In an economy increasingly dependent on research, information, and technology, we must insure that Oklahomans have an opportunity to pursue their education after the high school level. Oklahoma families are actively encouraged to save for their children's and grandchildren's college education through the Oklahoma College Savings Plan (Oklahoma's "529 Plan").
Oklahoma's 529 Plan provides a flexible, affordable and tax friendly way to save for a loved one's college education. An account can be opened for as little as $100, and there is no means test or income restriction on who can participate. The money grows completely tax free, and the earnijng remain tax exempt when used for qualified expenses. In addition, the Oklahoma College Savings Plan is the only 529 plan that provides a generous up front deduction from Oklahoma taxable income in the year the contribution is made. The Oklahoma College Savings Plan enjoys high rankings by numerous national organizations, and it has among the lowest fees of any 529 plan because we don't have to pay large commissions to brokers to promote it.
Tax Benefits: