OREGON

Oregon College Savings Plan

Type: Savings

Phone: 866-772-8464

State tax deduction for residents: $2,000 per year deduction

Open to nonresidents: Yes

Refund provisions: Penalty of 10% of earnings

Minimum/maximum contributions: $250 / $250,000

This expensive plan has been struggling with disappointing performance and a scandal-tainted fund manager, Strong Funds. While other plans managed by Strong have dropped the company or at least brought on other fund managers to offer alternative investment choices, Oregon has stuck with Strong.

Also managed by First American Bank, the plan offers six fixed portfolios, five of which are used in its age-based portfolio. Only the balanced stock-bond, moderate and conservative options have posted average returns over the past year. The aggressive, "in-college" and index-fund options have lagged their peers. For direct-sold accounts, expenses are 1.25% per year (plus $30 per year, waived for residents, automatic contributions and $25,000 balances). Buying through a broker adds up to 1% per year.

MFS 529 Savings Plan
Run by MFS funds and available only through brokers, this plan includes an age-based portfolio, four fixed portfolios and 20 individual mutual funds. Expenses are very high, exceeding 2.75% in some share classes, plus a $25 annual fee, waived for residents or a $25,000 balance.

State College Savings Plans