Five-member board administers the program. The State Treasurer, Jim Hill, chairs the board and provides staff to the board with the assistance of Higher Education. Earnings are tax deferred at the Federal and State level and taxed at student rate at the time of withdrawal. Account owner or beneficiary initially must be an Oregon resident to open an account. Account funds are invested according to the policy established by the College Savings Board.
Qualified expenses are tuition, fees, books, supplies and equipment.