Do You need to be Offered Football Tickets to get Motivated to Save for College?
Posted 30 Aug, 2007
Banks used to give away toasters to encourage you to open an account with them. Now a state college savings program is getting in to the giveaway game:
In an effort to generate more interest in their state’s 529 plans, the website for Oklahoma College Savings Plans has opened up a “VIP Experience Sweepstakes,” which uses the hype and excitement of Oklahoma college football to draw attention to their offerings.
Visitors to the website have the chance to win tickets to an Oklahoma State or University of Oklahoma football game, pre-game tickets, autographed footballs, and other goodies like limo rides, personalized football jerseys, and behind-the-scenes tours.
Any Oklahoma resident who visits the website can register to win the tickets, whether they sign up for a savings account or not. According to The Oklahoman, administrators hope the possibility of free tickets will persuade people to learn more about their savings plans. This is a clear bid for attention, but will it work? I’ll be interested in finding out.
This appears to be a good idea from a marketing standpoint, but the Oklahoma state 529 plan may or may not be the right choice for a particular family. There should be much more involved in choosing an appropriate college savings vehicle than gaining the chance to win a football ticket.
Many families don’t know that they can sign up for a 529 plan offered by a state other than their own—in fact, you can have 529 accounts in several states if you like. A plan’s rate of return, expenses and tax perks vary from state to state, so make sure you do your homework. Find out which state’s plan will be the best fit for your family’s situation (and then, after you do the research, maybe you will have leftover funds to buy a football ticket! Go Chargers!)
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding, a nationwide company that helps families find creative ways to reduce their college costs.
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Banks used to give away toasters to encourage you to open an account with them. Now a state college savings program is getting in to the giveaway game:
In an effort to generate more interest in their state’s 529 plans, the website for Oklahoma College Savings Plans has opened up a “VIP Experience Sweepstakes,” which uses the hype and excitement of Oklahoma college football to draw attention to their offerings.
Visitors to the website have the chance to win tickets to an Oklahoma State or University of Oklahoma football game, pre-game tickets, autographed footballs, and other goodies like limo rides, personalized football jerseys, and behind-the-scenes tours.
Any Oklahoma resident who visits the website can register to win the tickets, whether they sign up for a savings account or not. According to The Oklahoman, administrators hope the possibility of free tickets will persuade people to learn more about their savings plans. This is a clear bid for attention, but will it work? I’ll be interested in finding out.
This appears to be a good idea from a marketing standpoint, but the Oklahoma state 529 plan may or may not be the right choice for a particular family. There should be much more involved in choosing an appropriate college savings vehicle than gaining the chance to win a football ticket.
Many families don’t know that they can sign up for a 529 plan offered by a state other than their own—in fact, you can have 529 accounts in several states if you like. A plan’s rate of return, expenses and tax perks vary from state to state, so make sure you do your homework. Find out which state’s plan will be the best fit for your family’s situation (and then, after you do the research, maybe you will have leftover funds to buy a football ticket! Go Chargers!)
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding, a nationwide company that helps families find creative ways to reduce their college costs.
Subscribe in a reader
Subscribe by Email
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