We continue to be here for you
The spread of the coronavirus (COVID-19) is affecting Oregonians’ health and causing disruptions to our daily lives. It’s also putting pressure on the financial markets. While many of you may be dealing with immediate issues like school closures or unexpected childcare scheduling, we want to share two quick things with you regarding the Oregon College Savings Plan.
First, our service center, call center, and online services remain open to serve you. The Oregon College Savings Plan and its service providers have strong, tested continuity plans in place to ensure all critical operations, administrative functions, and information systems continue to operate as usual. You can still make contributions, take distributions to pay for school, or access any other online service you typically use. If you need to call us, our member services representatives are ready to help with any of your college savings needs.
Second, we are closely monitoring the financial markets and the performance of the Oregon College Savings Plan portfolios. The recent swings in the markets have been dramatic, which is understandably uncomfortable for savers investing for the future. While we can’t control the markets, we did design the Plan’s innovative College Enrollment Year options knowing that financial markets can be volatile. These investment options are designed to emphasize participation in the stock market when beneficiaries are young, but then protect the account balance from market swings as they approach and then enroll in college.
During this uncertain time, we hope this note provides you at least a small amount of comfort and peace of mind regarding your college savings account and allows you to focus on your family and other immediate priorities.
As always, our team continues to work hard every day to support your savings goals. Thank you for your participation in the Oregon College Savings Plan and for investing in your loved one’s future.
All the best and please stay healthy.
Your Oregon College Savings Plan team.