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State Treasurer wants to cut fees on college savings funds

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High Five
Thursday, May 12, 2011

Oregon State Treasurer Ted Wheeler wants to reduce investment fees in the state's college savings plans by more than $500,000 a year.

Wheeler hopes that the fee reduction would make the Oregon College Savings Network one of the most affordable in the nation.

Currently, investors pay anywhere from about $4.40 to $12 for every $1,000 they invest in most Oregon College Savings Plan funds -- and even more in the broker-sold MFS Oregon 529 Plan.

About $1 of those annual fees go to the Oregon State Treasury to manage and market the plans; the rest go to plan sponsors TIAA-CREF Tuition Financing Inc. and MFS Investment Management.

Under Wheeler's proposal, the state's share of fees would fall to 50 cents per $1,000.

Read more at OregonLive.com.

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