Oregon Treasurer Ted Wheeler praises state’s college saving plan

As college affordability rises as a primary issue for students, Oregon Treasurer Ted Wheeler says that Oregon’s 529 program is allowing “more families than ever” to save money for college.

“Higher education and advanced job training are critical in today’s economy, and the Oregon 529 program is putting more options in reach for more Oregonians,” said Wheeler in a news release on Friday.

The Oregon State Treasury manages the Oregon 529 Savings Network, which has reported a record-setting $2.4 million worth of assets in 2015. Family members who put money into the plan have benefited 159,670 students.

The 529 plan allows family members to put money toward a beneficiary’s college tuition or other school related costs. Any earnings put in the plan are free from federal tax.

Ted Wheeler was appointed Oregon treasurer in in 2010 and has doubled financial assets since he took office.

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Forrest Welk

Forrest Welk