The Little Steps, Big Dreams matching 529 program helps families start saving early for their child’s education. Beginning in kindergarten, families can open a special savings account that grows over time to help pay for college or job training after high school.
This program is a partnership between HRCEF and the Hood River County School District (HRSCD), and was made possible by a generous gift from the Farmers Conservation Alliance,
Families of kindergartners enrolled in an HRCSD elementary school who open an account can receive a cash incentive to help get started on saving for their child’s future.
While parents can enroll in an a 529 program at any time, the HRCEF incentive is only available for kindergarten students.
What is a 529 Plan?
A 529 plan is a special kind of savings account that helps families save money for college or career training. The money you put in can grow over time, and you don’t pay taxes on the earnings if the funds are used for qualified education expenses such as tuition, books, and other educational needs at colleges, trade schools, or universities.
Oregon’s version of this account is called Embark — formerly the Oregon College Savings Plan (OCSP). Embark is managed by the Oregon State Treasury. Families can open an account with as little as $25, and new accounts may qualify for a $100 bonus from the state.
For Students with Disabilities: Oregon ABLE
Families of children with disabilities may qualify for an Oregon ABLE Savings Plan. This type of account helps parents save money for future education or living expenses without losing important federal or state benefits.
How to Enroll
Families of kindergarten students can open an Embark or ABLE account at periodic orientation sessions hosted by the Hood River County School District.
At these events, staff from the Oregon Department of Treasury will help families set up accounts on site. Participants can also scan a QR code to receive the $100 savings incentive.
Families who already have an Oregon College Savings Plan or ABLE account may also qualify for the incentive if they access the QR code before June 30 of each year.
NOTE: Parents or guardians and the student must have a Social Security Number or Tax ID Number to open an account. HRCEF is exploring options to support families who are not eligible.