Empowering Education Through Legacy and Hope
The Elinore Nudelman ALS College Savings Program, administrated by ALS Northwest, honors the legacy of individuals who have battled amyotrophic lateral sclerosis (ALS) by securing a brighter educational future for their children.
This unique program offers the establishment of a funded 529 College Savings Plan through the Oregon College Savings Plan for children who have lost a parent or guardian to ALS. This provides a pathway to educational opportunities without financial burden.
A 529 College Savings Plan is an investment that makes saving for college and other educational expenses more manageable. Contributions to the 529 plan grow tax-free, and withdrawals are not taxed when used for qualified educational costs. These costs can include tuition and fees associated with college, apprenticeships, or vocational schools.
Why a 529 College Savings Plan?
Growth Potential: Funds in the 529 plan are invested, offering the opportunity for growth over time and enhancing the value of the educational fund.
Flexibility: After establishing the account, additional contributions can be made by anyone. This allows family, friends, and supporters to contribute to the child’s educational future.
Control and Ownership: While the Oregon College Savings Plan administers the account, the parent or guardian retains ownership and control over investment choices and funds after the account is set up.
When a child experiences the loss of a parent due to ALS, the impact goes beyond social or emotional; the child loses the prospective financial support and earnings that the parent would have contributed to their future. In 2023, around 7% of families affected by ALS and receiving assistance from ALS Northwest had at least one child under 18 residing with them.
The challenge of saving for and financing education becomes a common struggle for many children who lose a parent or guardian to ALS. This program aims to alleviate a portion of this lost support by enabling children of ALS patients to accumulate savings for their future education and overall life success.
Eligibility and Application
To be eligible for this program, applicants must meet the following criteria:
- The child must have a parent or guardian who died from ALS.
- The child and their parent who died from ALS must have resided in Oregon and SW WA (Cowlitz, Clark, Klickitat, Pacific, Skamania and Wahkiakum).
- The parent who died must have been registered with ALS Northwest (formerly known as The ALS Association Oregon and SW WA Chapter).
- At the time of application, the child must be no older than 17 years of age.
- Both the account holder and the beneficiary must have a valid Social Security number or tax ID.
Building a Legacy of Education — Together
The Elinore Nudelman ALS College Savings Program stands as a testament to the resilience and legacy of those affected by ALS. Through the gift of education, we aim to empower the next generation with hope, opportunity, and the tools to succeed. To apply, or to learn more about how you can support or benefit from this program, please contact us at careservices@alsnorthwest.org or (503) 512-5141.