[quote style=”2″]Hermiston 1 of 5 Districts in State Selected for Pilot Program[/quote]
The Hermiston School District is one of five in the state selected to be part of a pilot program designed to get parents to better understand the importance of post-high school education and how to achieve it.
For the 2015-16 school year, Hermiston elementary schools will be part of the Be College Ready program which bring awareness of the Oregon College Savings Plan (OCSP). The OCSP is a 529 plan – an investment vehicle designed to help students save for college. The number 529 refers to Section 529 of the Internal Revenue Code.
The Hermiston district sees the program as a key tool in building what it calls a “college-going culture” within the community. The goal, said Dr. Fred Maiocco, superintendent of the Hermiston School District, is for every student to develop a plan for some kind of education and training past high school, whether that be a traditional university or 2 year community college, or a trade school, apprenticeship or other training opportunity.
John Valley, outreach director for Oregon 529 College Savings Network, introduced the Be College Ready program to parents and students Thursday night during the district’s K-8 College & Career Night at Armand Larive Middle School.
As part of the Be College Ready program, elementary schools will receive materials to educate students and families about saving for college and how to open a 529 college savings account. Valley said those who open accounts can receive an annual Oregon state tax deduction on contributions of up to $4,530 for joint tax filers, or $2,265 for individual filers. All earnings on withdrawals used to pay for qualified higher education expenses will be tax free.
The money accrued in the account can be used to pay for a four-year degree, two-year degree, trade schools or professional development.
“The hope is people will look at this as an opportunity to offset costs of college,” Valley said.
Valley said it’s a simple process to open an account and the minimum balance needed is just $15. Account holders can contribute as little or as much as they choose.
Dr. Michelle Jensen of the Hermiston School District said it is important to start getting elementary school students thinking about college because by the time they are seventh grade, they have already made up their mind about college.
“So we know we have to start earlier than seventh grade,” she said.
The other districts chosen to be part of the Be College Ready program are North Clackamas School District, Seaside School District, McMinnville School District and the Grants Pass School District.
“We’re pleased to be one of the five school districts selected to take part in this exciting pilot program,” said Maiocco. “The Oregon College Savings Plan is committed to helping families, and the Be College Ready program looks to be a great partnership between our elementary schools and the communities and families we serve.
For more information about the program, visit the Oregon College Savings Plan website.
