SALEM — In an effort to encourage families to start saving for college early, the Oregon College Savings Plan has announced its Baby Grad promotion. Any Oregon College Savings Plan account opened on behalf of a new Oregon baby during the months of January, February and March of this year will automatically receive a $25 matching contribution from the savings plan.
“We are really excited to offer this promotion in an effort to encourage families to start saving for college early,” said Michael Parker, executive director of the plan. “Thanks to the principle of compounded interest, regularly scheduled contributions can add up over time, and the earlier a family starts saving, the more time their investment has to grow.”
Any adult who opens and funds an Oregon College Savings Plan account on behalf of a new Oregon baby is eligible for the $25 match; a new Oregon baby is defined as any person living in Oregon who was born in the 12 months prior to the account being opened. The account must be funded with a minimum of $25, and there is a limit of one match per baby.
At the end of the three-month promotion period, which expires March 31, any qualifying accounts will receive the $25 contribution. Matches are expected to be made during April and will be confirmed as a contribution transaction.
Families can open an account today, learn more at www.OregonCollegeSavings.com/BabyGrad or call 866-772-8464.