Oregon College Savings Plan
by Karen Winters

As of 2001, Oregonians now have an additional credit which can allow a deduction on thier Oregon return for contributions of up to $2000.

The Oregon College Savings Plan is a state-sponsored plan that meets federal qualifications for special tax status as a Qualified Tuition Savings Program. When a plan is opened, the account owner or designated beneficiary must be an Oregon resident. Various options of investment are offered and managed by the Oregon QSTP board and Strong Investment, Inc.

The plan basically allows the contributor a deduction of up to $2000 of their annual contributions and when funds are withdrawn to pay for qualified higher education expenses, the earnings are taxable to the beneficiary.

For more information, feel free to contact any one of our qualified staff members.