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Oklahoma Treasurer Ken Miller unveils college savings plan sweepstakes

by Silas Allen Published: August 16, 2013

Standing before a room full of students Thursday at Wilson Elementary School, Oklahoma Treasurer Ken Miller asked the group what they wanted to be when they grew up.

Hands flew up. One girl wanted to be a marine biologist. Another student said she'd like to be an engineer. Others said they wanted to be teachers, dentists or veterinarians.

Those are all good plans, Miller told the students, but most of them would require a college education. But going to college isn't free, he said. Do you think it's cheap, he asked, or expensive?

“Expensive!” the students shouted back in unison.

A new sweepstakes Miller unveiled Thursday will help one Oklahoma student cover that expense. Under the 10,000 Reasons to Save Sweepstakes, the Oklahoma 529 College Savings Plan will give one student $10,529 toward a college savings account. The student's school will also receive another $10,529 in cash. The sweepstakes ends Nov. 15.

“We want to get the message out,” he said. “One way we can help draw attention to that is by giving away free money.”

Miller, who serves as the chairman of the college savings program, said the sweepstakes is designed to draw attention to the importance of saving for college. Prize money comes from the program's sponsor, financial service company TIAA-CREF, Miller said. No state funds are used for the awards, he said.

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