OKLAHOMA CITY – They may have just been born Monday, but college funds for two babies in Oklahoma are already underway!
On Tax Day, April 15, the Oklahoma College Savings Plan awarded two babies first born in the state a college fund check of $1,529.
“The birth of a child is a very special day,” said Oklahoma State Treasurer Randy McDaniel, board chair for OCSP. “Starting to save for college when children are young is ideal because accounts have many years to grow. Contributions made to an Oklahoma 529 College Savings Plan account qualify for deduction on your state income taxes. It’s a great way to save for college and receive tax savings.”
As part of the Oklahoma 529 College Savings Plan’s fifth annual Tax Day Baby event, the first qualifying baby born at Integris Baptist Medical Center was declared the Tax Day Baby.
That baby was Michael, welcomed into the world by mom Cecilia and dad Sonny. He is the couple’s fourth child and his mom said the award is a great start toward her son’s future.
“My point is to push my children toward a career and toward their future,” Cecilia said. “Michael is a lucky baby on Tax Day to receive this.”
A second baby also received the $1,529 award – Abigail Bilyk was the first baby born at Tulsa’s St. John Medical Center at 4:54 a.m.
According to OCSP, “other families expecting a new baby this year also have the opportunity to get a jump start on saving for college. OCSP’s annual Newborn Sweepstakes will award one Oklahoma baby born in 2019 $5,529 toward an OCSP account.” The hospital where the baby is born will also receive $1,529.
Parents and grandparents have until April 14, 2020, to enter their 2019 newborn.