Senate approves bill modernizing college savings plan

OKLAHOMA CITY – Sen. Nikki Nice has won unanimous approval by the full Senate for her bipartisan legislation modernizing Oklahoma’s college savings plan. Nice, D-Oklahoma City, said her legislation was about meeting families where they are in the digital age. 

“A lot of young families don’t use paper checks any more – they use apps like Zelle, Venmo, and Google Pay. Senate Bill 1989 will allow parents, grandparents and others to make deposits into Oklahoma’s 529 savings plan accounts using peer-to-peer and digital payment networks,” Nice said. 

Established in 2000, Oklahoma’s 529 college savings plan has helped almost 100,000 students and their families save for college. Nice is hopeful her legislation will encourage greater participation. 

 “Meeting families where they are will encourage greater participation to save for higher education. This bill will help more Oklahoma children attain a college degree,” Nice said.  

 SB 1989 now moves to the House of Representatives and will be carried by House principal author, Rep. Mike Osburn, R-Edmond. 

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For more information, contact:  Sen. Nikki Nice at 405-521-5531 or Nikki.Nice@oksenate.gov