Despite increased development and dissemination, there has been very little empirical research on Open Educational Resources (OER). Teachers and students involved in a large-scale OER initiative at eight community colleges across the United States were given a detailed questionnaire aimed at uncovering their perceptions of the cost, outcomes, uses and perceptions of quality of the OER used in their courses. Teachers and students alike reported significant cost savings and various pedagogical and learning impacts due to the implementation of OER in the classroom. In addition, most students and teachers perceived their OER to be at least equal in quality to traditional textbooks they had used in the past. Implications for further research are discussed.