Did You Know OSU Offers a College Savings Plan?

The Oklahoma College Savings Plan (OCSP) provides OSU employees with a way to save for their children’s future. The Plan offers a choice of investment options, tax advantages, and the flexibility of using your savings at any qualified higher education institution both in the United States and in certain situations abroad.

Advantages of Using the Oklahoma College Savings Plan to Save for College:

  • Funds in the account may be used at any eligible educational institution in the nation and abroad, at a private or public college or university, graduate school, or any qualified postsecondary institution.
  • Savings may be applied towards tuition as well as related expenses such as books, supplies, required fees, and certain room and board costs.
  • The OCSP offers several investment choices. The choices vary in investment strategy and degree of risk, allowing you to select the option(s) that best fit your needs and investment philosophy.
  • If your child or beneficiary decides not to attend a postsecondary institution, the account owner can transfer funds to another eligible beneficiary. To avoid penalty and income tax, the new beneficiary must be a member of the family of the original beneficiary as defined by law.
  • Tax Advantages: Earnings on the investments are not taxed, even upon withdrawal, if withdrawn for a qualified education expense. The maximum annual deduction for Oklahoma taxpayers to all accounts is $10,000 for individual filers or $20,000 for those filing a joint return.

For more information, a Program Disclosure Booklet, and Enrollment Materials: Visit the OCSP website at www.ok4saving.org or contact an OCSP consultant at 1-877-OK-4-SAVING (1-877-654-7284)