Adult Learners


Savings and Tax Advantages


Oklahoma College Savings Plan

The Oklahoma 529 College Savings Plan is a smart, tax-advantaged way to help save for anyone's higher education costs. The program offers great tax advantages including an Oklahoma tax deduction, a choice of investment options and the flexibility to use your savings at thousands of higher education institutions in the United States and abroad.

Oklahoma 529 College Savings Plan logo

An account can be opened with a minimum initial contribution of $100 per Investment Option. The minimum contributions after that are $25 per Investment Option. However, if your employer allows payroll deduction, the minimum initial contribution is $100 per Investment Option and the minimum contributions after that may be as low as $15 per Investment Option per pay period.

The amount you contribute can be deducted from your Oklahoma taxable income up to $10,000 per year or $20,000 for couples filing jointly. Any amount of a contribution that is not deducted by the taxpayer may be carried forward as a deduction from income for the succeeding five years, subject to the annual maximum deduction on contributions.

Photo of key with a $ signOklahoma's plan offers three investment choices: a core Managed Allocation Option, a Guaranteed Option and a 100% Equity Option. These choices vary in their investment strategy and degree of risk, allowing you to select the option or options that best fit your needs and investment philosophy.

For more information, call toll free 1.877.OK 4 SAVING (1.877.654.7284) or visit Ok4Saving.org.


Hope Scholarship & Lifetime Learning Tax Credits

Established in 1997, the HOPE Scholarship and the Lifetime Learning Credit were created to make higher education more accessible.

The HOPE Scholarship allows taxpayers to claim tax credits of up to $1,200 per year for tuition and fees for the first two years of college.

The Lifetime Learning Credit is available for all years of postsecondary education and for courses to acquire or improve job skills. Families may claim a tax credit of up to $2,000 per tax year for the taxpayer, taxpayer's spouse or any eligible dependents for an unlimited number of tax years.

You can access information about the Tax Benefits for Education on the IRS Web site.