State Treasurer wants to cut fees on college savings funds

State Treasurer wants to cut fees on college savings funds

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.

{biztweet}oregon college{/biztweet}