The Oregon College Savings Plan has announced an expansion to its Be College Ready program, introduced in 2015, that includes seeding college savings accounts for kindergartners in up to 69 elementary schools in 17 school districts across the state.
This year’s Be College Ready program will take place during the 2016/2017 school year in the following Umatilla County elementary schools: Echo School in Echo; Desert View, Highland Hills, Rocky Heights, Sunset and West Park in Hermiston; Lincoln, McKay Creek, Sherwood Heights and Washington in Pendleton; Stanfield Elementary in Stanfield; and McNary Heights in Umatilla.
The Be College Ready program is designed to help families better understand the long-term benefits of higher education and how to reach their college planning goals. It brings the Oregon College Savings Plan directly into elementary schools, with the purpose of educating parents about how to plan for future college expenses, motivating kids with fun classroom materials and partnering with local business and civic organizations to provide program resources that meet the needs of each local community.
New to the program this year, parents of kindergarten students in each participating district will be eligible to receive a $25 contribution, dubbed “My First Account,” from the Oregon 529 Savings Network into a new or existing Oregon College Savings Plan.*
“We want to ensure that every child in Oregon begins the process of saving for college,” explained Michael Parker, executive director of the Oregon 529 Savings Network. “By either establishing or adding to a college savings account for these kids at an early age, we are giving their families a head start that can pay off in the future.”
Other features of the program include the presentation of a “College Funding 101” seminar, open to the entire community, in each participating district; and introducing families to Financial Beginnings, a nonprofit organization that provides full-service financial education programs that are fun, engaging, age-specific and free of charge. Participating Be College Ready schools will also receive complimentary homework folders, pencils and motivational bookmarks for all elementary school students.
The complete list of districts taking part include Astoria, Dallas, Echo, Gladstone, Grants Pass, Hermiston, Jewell, McMinnville, North Clackamas, Oregon City, Pendleton, Phoenix-Talent, Seaside, Stanfield, Three Rivers/Josephine County, Umatilla and Warrenton-Hammond.
Last year’s debut of the Be College Ready program took place in 38 elementary schools in five districts, impacting 19,000 students. Accounts and total assets in all five pilot communities increased, underscoring the positive impact of the program. From October 2014 to October 2015, the total college savings contributions in the five pilot school district areas increased by nearly $2 million, and the opening of new Oregon College Savings Plan accounts increased by:
• 5.3 percent in Clackamas County
• 21.7 percent in the Grants Pass community
• 28.3 percent in the McMinnville community
• 64.7 percent in the city of Hermiston
• 88 percent in Clatsop County
For more information about the Be College Ready program, visit the program’s website. For more information about the Oregon College Savings Plan, its investment options and how to enroll, visit the Oregon College Savings website or call toll free 866‐772‐8464.
