Legions of shoppers annually open their wallets on Black Friday for the retail industry’s frenzy of deals and discounts. While most browse for TVs, tablets and toys, the Oregon College Savings Plan is encouraging this year’s shoppers to invest in the gift of education.
On Black Friday of this year – Nov. 25, 2016 – the Oregon Colleges Savings Plan will make a one-time matching contribution of $25 into any new account established online between 12am and 11:59 pm PDT. Match details and official rules are available at OregonCollegeSavings.com/BlackFriday.
“There is no holiday gift more enduring than the gift of education,” explained Michael Parker, executive director of the Oregon College Savings Plan. “We hope this Black Friday promotion incentivizes families to open a college savings plan for the children in their lives; saving today may help ensure lower college loan debt in the future.”
For families who already have an account, the Oregon College Savings Plan offers a convenient eGift feature that allows friends and family to make a contribution for the holidays, providing downloadable gift certificates for Christmas, Hanukah and Kwanzaa.
Opening an Oregon College Savings Plan account takes just 15 minutes and $25 to get started, and offers a wide variety of low-cost investment portfolios to choose from including age-based, multi-fund, single-fund and guaranteed options. Oregon taxpayers are eligible for a state income tax deduction on contributions and can enjoy tax-free growth opportunity as well as tax-free withdrawals when funds are used for qualified higher education expenses (limitations apply).
Account funds may be used to cover college expenses like tuition, fees, books, computers and certain housing expenses at any accredited college, university or technical school in the U.S. and some abroad.
About The Oregon College Savings Plan
The Oregon College Savings Plan, which is part of the Oregon 529 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 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.
The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. Non-qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax.
TIAA-CREF Tuition Financing, Inc., program manager. TIAA-CREF Individual & Institutional Services, LLC, member FINRA, distributor and underwriter for the Oregon College Savings Plan.
