Oregon's savings plan designated for educational purposes has shifted its identity to "Embark," a name intended to represent a broader range of post-high school opportunities that Oregon students might pursue. The Oregon College Savings Plan, which for years has been a staple for families planning for their children's academic futures, underwent a thorough rebranding process that included public feedback and research, as stated on the Oregon State Treasury official announcement. This change aims to reassure that the program is not only tailored for traditional college-bound students, but also those eyeing trade schools, apprenticeships, and certificate programs.
State Treasurer Elizabeth Steiner conveyed her commitment to financial wellness in a statement obtained by the Oregon State Treasury announcement, "My focus has always been on improving financial wellness for Oregonians, and this new name reflects our commitment to helping more families start saving today for a financially secure future." Further emphasizing the inclusivity of the program following the rebrand, Ryan Mann, Executive Director of Upward Oregon, highlighted that the original name did not entirely encapsulate the vast educational aspirations of Oregon families. Embark symbolizes the commencement of various ventures defining the future of education and career for Oregon youths.
The rebranded savings plan features tax-free investment growth, a refundable tax credit for contributions, and low-cost investment strategies, adapted for families with different financial needs and plans. The enhanced customer service of Embark is poised to guide families with precision through their savings endeavors. To unveil the new brand publicly, Embark is set to participate at the OMSI Oregon Science Festival on September 13-14, where it will establish connections with attendees and discuss the advantages of the savings options provided, as per the Oregon State Treasury.
Partnering with OMSI, an alignment praised by Mann, as reported in the Oregon State Treasury announcement, "We're excited to partner with OMSI, an organization that shares our belief in the power of education, especially in the STEAM fields," is hoped to underpin Embark's commitment to STEAM education. And, for those in attendance, Embark has organized a special encounter with Curious George on September 13, offering a blend of educational promotion and entertainment. The reassurance provided to current account holders by Embark stresses that existing accounts, and investment options remain unaffected despite the recent name change.
