Tulsa group launches initiative to encourage college savings

Thursday, October 27th 2005, 6:00 am
By: News On 6

OKLAHOMA CITY (AP) -- Low to moderate-income families could save more money to send their children to college under an initiative by an anti-poverty agency.

The Community Action Project of Tulsa's plan calls for public or private matching funds for families who put money into state college savings accounts.

The Oklahoma College Savings Plan was enacted by the Oklahoma Legislature several years ago. It allows a state income tax deduction of up to $10,000 each year.

But David Reisdorph, coordinator of the group's college savings campaign, says many low-income families don't have the ability to put money in the accounts.

He says offering matching funds will encourage more families to contribute and youngsters could be empowered through learning to build assets.