OK infographic 10162018 2 - Oklahoma 529 College Savings …...$886,525,449 Total Assets Who is...
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$886,525,449 Total Assets Who is saving in the Oklahoma 529 College Savings Plan (OCSP) 18-25 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-65 65+ 1,172 560 2,235 4,173 3,789 4,440 3,510 2,810 2,040 4,459 Age Beneficiary age at account opening 0-5 6-11 12-14 15-18 19-24 25+ 21,794 10,223 6,114 1,291 1,047 12,255 Age Current age of beneficiaries 0-5 6-11 12-14 15-18 19-24 25+ 9,460 13,967 7,401 7,574 3,338 9,644 Age $502,729,386 Qualified withdrawals since inception Qualified higher education expenses include tuition, fees, books, supplies and equipment required for enrollment, such as computers and related technology such as internet access fees, software or printers. (Many account owners have accounts for more than one beneficiary/child) Plan Statistics 29,172 Account Owners $16,781 $25,952 38,833 Average monthly contribution Average account size $274 Unique Beneficiaries WITHDRAWALS WITHDRAWALS How people contribute to the Plan Automatic Contribution Plan Check Payroll Deduction E-Gift Electronic 24.7% 33.2% 37% Contributions to OCSP can be made for as little as $25. $ Oklahoma's average monthly contribution for contributing accounts Average Oklahoma student loan debt for class of 2017 The Institute for College Access & Success Number of children under the age of 18 with an OCSP account 959,131 5.2% Number of Oklahoma children under the age of 18 2017 U.S. Census estimate for Oklahoma Northeast – 998 Northwest – 2,407 OKC Metro – 17,734 Southeast – 878 Southwest – 1,355 Tulsa Metro – 11,814 Out-of-State – 3,647 51,331 (based on active accounts as of 9/30/18) Consider the investment objectives, risks, charges and expenses before investing in the Oklahoma 529 College Savings Plan. Visit www.ok4saving.org for a Plan Disclosure Booklet containing this and other information. Please read it carefully. Before investing in a 529 plan, you should consider whether the state you or your beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits such as financial aid, scholarship funds or protection from creditors for investing in its own 529 plan. Taxpayers should seek advice from an independent tax advisor based on their own particular circumstances. If the funds aren't used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply. Account value for the investment options is not guaranteed and will fluctuate based upon a number of factors, including general market conditions. TIAA-CREF Tuition Financing, Inc., Program Manager. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA and SIPC, distributor and underwriter for the Oklahoma 529 College Savings Plan. 491793 3.4% 1.7% % of Oklahoma households with children under the age of 18 with an OCSP account Market Penetration Northeast – $200 Northwest – $223 OKC Metro – $258 Southeast – $233 Southwest – $243 Tulsa Metro – $323 $18,866 Average annual cost of in-state tuition, fees, books & living costs (2018) CollegeTuitionCompare.com
Transcript of OK infographic 10162018 2 - Oklahoma 529 College Savings …...$886,525,449 Total Assets Who is...
$886,525,449 Total Assets
Who is saving in the Oklahoma 529 College Savings Plan (OCSP)
18-25
25-29
30-34
35-39
40-44
45-49
50-54
55-59
60-65
65+
1,172
560
2,235
4,173
3,789
4,440
3,510
2,810
2,040
4,459
Ag
e
Beneficiary age at account opening0-5
6-11
12-14
15-18
19-24
25+
21,794
10,223
6,114
1,291
1,047
12,255Ag
e
Current age of beneficiaries 0-5
6-11
12-14
15-18
19-24
25+
9,460
13,967
7,401
7,574
3,338
9,644Ag
e
$502,729,386Qualified withdrawals since inception
Qualified higher education expenses include tuition, fees, books, supplies and equipment required for enrollment, such as computers and related technology such as internet access fees, software or printers.
(Many account owners have accounts for more than one beneficiary/child)
Plan Statistics
29,172 Account Owners
$16,781
$25,952
38,833
Average monthly contribution
Averageaccount size
$274
Unique Beneficiaries
WITHDRAWALSWITHDRAW
ALS
How people contribute to the PlanAutomatic Contribution PlanCheckPayroll DeductionE-GiftElectronic
24.7%33.2%
37%
Contributions to OCSP can be made for as little as $25.
$Oklahoma's average monthly contribution for contributing accounts
Average Oklahoma student loan debt for
class of 2017The Institute for College
Access & Success
Number of children under the age of 18 with an OCSP account
959,131
5.2%
Number of Oklahoma children under the age of 18
2017 U.S. Census estimate for Oklahoma
Northeast – 998Northwest – 2,407OKC Metro – 17,734Southeast – 878
Southwest – 1,355Tulsa Metro – 11,814Out-of-State – 3,647
51,331 (based on active accounts as of 9/30/18)
Consider the investment objectives, risks, charges and expenses before investing in the Oklahoma 529 College Savings Plan. Visit www.ok4saving.org for a Plan Disclosure Booklet containing this and other information. Please read it carefully.Before investing in a 529 plan, you should consider whether the state you or your beneficiary reside in or have taxable income in has a 529 plan that offers
favorable state income tax or other benefits such as financial aid, scholarship funds or protection from creditors for investing in its own 529 plan.Taxpayers should seek advice from an independent tax advisor based on their own particular circumstances. If the funds aren't used for qualified higher education expenses, a 10% penalty tax on earnings (as well as federal and state income taxes) may apply.
Account value for the investment options is not guaranteed and will fluctuate based upon a number of factors, including general market conditions. TIAA-CREF Tuition Financing, Inc., Program Manager. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA and SIPC, distributor and underwriter for the Oklahoma 529 College Savings Plan.
491793
3.4%1.7%
% of Oklahoma households with children under the age of 18 with an OCSP account
MarketPenetration
Northeast – $200Northwest – $223OKC Metro – $258Southeast – $233Southwest – $243
Tulsa Metro – $323
$18,866Average annual cost of
in-state tuition, fees, books & living costs (2018)
CollegeTuitionCompare.com
