Asset Building Briefs & Summaries Financial Inclusion

Pursuing 529 College Savings Plan Exclusion From Oklahoma Asset Limit Tests

Public benefits such as Temporary Assistance for Needy Families, Medicaid, and Food Stamps are an important resource for many low-income families. However, receipt of these benefits is associated with limited asset accumulation, which may hinder recipients’ long-term social and economic development (Nam, 2007). Like many states, Oklahoma uses asset limit tests when determining eligibility for various stateadministered public benefit programs. These asset limits vary by program and range from $1,000
to $3,000.

Citation

Mason, L. R., Lo, S., & Clancy, M. (2008, April). Pursuing 529 College Savings Plan exclusion from Oklahoma asset limit tests (CSD Policy Brief No. 08-38). St. Louis, MO: Washington University, Center for Social Development.