TULSA - It's the Oklahoma 529 College Savings Plan .
Oklahoma Treasurer Ken Miller suggests opening, or contributing to, a 529 plan this year.
It's an investment in a child's higher education plus can mean a state tax deduction for those who contribute.
State Treasurer Ken Miller offers this information about the 529 plans:
The holiday shopping season does not have to be stressful. State Treasurer Ken Miller today encouraged families to open or contribute to an Oklahoma 529 College Savings Plan (OCSP) account rather than fighting crowds and spending money on the latest fad.
"A college savings plan will far out last a toy that will be cast aside quickly," Miller said. "The gift of a savings plan serves as an early lesson in the importance of saving for college, as well as an investment in a child's future."
In his message for families, Miller also announced the OCSP now offers mobile account access and management to its account owners. Miller said the OCSP Mobile Account Access tool will make it easier for families to access and monitor the progress of each OCSP account while on the go.
Some of the features the tool provides include: monitoring account summary and recent transactions, making contributions and changing investment options as well as withdrawing funds from an account. The mobile account access tool is optimized for mobile devices such as iPhones and Androids but may be used with any smartphone.
In addition to mobile account access, the OCSP offers a Saving4College app to families to calculate college costs and help families stay on track to meet their savings goals. The app helps families view projected college savings, determine the cost of college in the timeframe a child will attend, and establish a realistic savings action plan.
"I hope this mobile application will provide a useful tool for parents and their children," Miller said. "It can help illustrate the actual savings in an OCSP account with the actual projected cost of particular schools. It can be a great tool to keep future college plans at the forefront of family conversations, ensuring everyone is working toward the same goal."