Amends Constitution. Oregon constitution generally prohibits the state from extending credit or incurring debt. Measure requires the legislature to create dedicated fund for exclusive benefit of Oregon students pursuing post-secondary education, including technical, professional and career training. Measure authorizes state to lend credit and incur debt to finance fund. Indebtedness incurred may not exceed one percent of real market value of all property in state. Moneys in fund not subject to constitutional limitations on investment. Generated earnings must be retained by fund, unless used to provide financial assistance to Oregon students pursuing post-secondary education. If governor declares an emergency, legislature may pass a bill to use the fund's money for any lawful purpose, provided the legislature also has approved a plan to repay the fund.