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The Oregon 529 College Savings Network remains the best way for families to save for education and job training. The Network began operation in 2001 and provides Oregon families with a unique and affordable investment program to help offset the future cost of higher education.

The Network, which is overseen by the Oregon 529 College Savings Board, offers a variety of mutual fund investment choices to help families meet their diverse needs.

Families can open accounts and invest on their own through the Oregon College Savings Plan or they can invest with the help of a financial professional through the broker-sold option, which is administered by MFS Investment Management.

The Network has enjoyed remarkable success and significant growth in its first eight years. At the end of 2001, families had opened 10,000 accounts. By December 2008, accounts climbed to more than 117,000, demonstrating the need for and the popularity of this type of investment vehicle.

The network provides options to families based on Section 529 of the IRS Code, with the goal of helping to make higher education and job training affordable for all families.

The Network provides significant state and federal tax advantages and more flexibility than many other college savings vehicles. Investors can receive a state tax deduction for their annual contributions each year, and that deduction climbs annually based on inflation. Additionally, if the money is used for qualified higher education expenses, all withdrawals are state and federal tax-free.

The plans give families options, as well. Families may use their assets at any eligible institution of higher education in the United States and abroad—including technical, vocational, and graduate schools—for a wide range of educational expenses, including tuition, fees, books, and room and board expenses.