Oregon 529 Plan: What College Savers Should Know
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Updated on July 3, 2023
Oregon offers two 529 plans: one direct-sold and one advisor-sold. Oregon residents can earn a tax credit for investing in either.
Credit: Image Credit: Education Images/Contributor / Universal Images Group / Getty Images529 plans are state-sponsored savings accounts designed to help people save for college by investing in the stock market. Most states allow residents to deduct contributions to 529 plans on their taxes. However, Oregon residents receive a tax credit for investing in an Oregon 529.
Learn more about the Oregon 529 program and rules for investing.
Oregon 529
Oregon offers two 529 plans. If you enroll in the advisor-sold plan, you’ll get the help of an advisor to make financial decisions. However, it comes with higher fees than the direct-sold Oregon College Savings Plan.
Oregon College Savings Plan
- Requires State Residency? No
- K-12 Expenses Eligible? Yes
- Fees: 0.25-0.65%
- Performance Notes: The Enrollment Year 2024 portfolio averaged 3.97% in annual returns since its creation.
MFS 529 Savings Plan (Advisor-Sold)
- Requires State Residency? No
- K-12 Expenses Eligible? Yes
- Fees: 0.62-1.19% plus a $25 annual maintenance fee for out-of-state residents only
- Performance Notes: The MFS 529 offers 25 enrollment year funds as well as risk-based funds (e.g., aggressive, moderate, or conservative). Speak with a plan representative to see a prospectus.
Behind the Numbers
As with any investment, your 529 savings fluctuate over time with the stock market. We updated our performance notes in January 2023.
Oregon 529 Tax Credit
According to the College Savings Plan Network:[2]
- Single state residents can take a tax credit on their annual contributions to any Oregon 529 — up to $150.
- Married Oregon residents who file jointly can get a $300 maximum tax credit.
- In Oregon, you can contribute up to $400,000 in total to college savings plans.