Feel good about saving with Oklahoma 529

A message from the Oklahoma State Treasurer's Office

Saving for a child’s education is a key goal for most families. With the rising cost of tuition, it’s more important than ever to have access to smart financial options that will help you pay for the cost of a quality education.

That’s why we’re proud to sponsor the Oklahoma 529. As Oklahoma’s official 529 education savings plan, it offers state tax advantages available only to Oklahoma taxpayers. Moreover, the Oklahoma 529 makes it easy for families looking to save for education expenses. Below are some of the advantages:

State Tax Deduction. Oklahoma taxpayers can reduce their state taxable income by up to $20,000 if married filing jointly ($10,000 filing single), from contributions made into an Oklahoma 529. Carry forward larger amounts up to five years.

Tax-Free. Contributions grow tax-deferred, which may result in larger gains over time. Withdrawals are tax-free when the money is used for qualified higher education expenses.

Gifting. Saving for a large goal can feel overwhelming. The good news is you don’t have to do it alone. Family and friends can help by gifting to a child’s Oklahoma 529 account at birthdays, graduations, holidays, or just because. Oklahoma taxpayers may be eligible for the state income tax deduction.

Flexibility. Qualified expenses include not just tuition but certain room and board costs, computers and related technology expenses, books, fees, and equipment. Plus, funds can be used at any accredited university, college, or community college worldwide, as well as CareerTech, K-12 tuition up $10,000 annually per student, student loan repayment up to a $10,000 lifetime limit per individual, and apprenticeship programs registered and certified with the Secretary of Labor under the National Apprenticeship Act.¹

Professionally Managed Investments. Oklahoma 529 offers a variety of investment options to fit your life situation, risk tolerance and savings goals. Customize for your student’s expected enrollment year in school, with an Enrollment Year Investment Option. An experienced investor might choose a Risk-Based Investment Option that may need to be reviewed and changed periodically. For a student nearing or in college, the Guaranteed Option might be a sound choice. Learn more about the investment options on this website or by reading the Plan Description. NOTE: You may change your investment choices up to twice per calendar year or upon a change in beneficiary.

We encourage you to find out more about Oklahoma 529 here on this site. If you have additional questions, please contact us.

• Helping families save for college since 2000
• Overseen by the Oklahoma Board of Trustees and chaired by the Oklahoma State Treasurer.
• More than 87,000 families trust Oklahoma 529 with their education needs (as of 06/30/2023)
• Oklahoma 529 is a 2022 Morningstar medalist²