There has been very little progress in the power scaling of Er/Yb fiber lasers in over a decade, reflecting the difficulties involved. Here we report, to the best of our knowledge, a new record of 302 W single-mode power from an Er/Yb fiber master oscillator power amplifier (MOPA) with a record optical efficiency of 56%, near the quantum limit. This is made possible by new fiber development from Nufern and off-resonant pumping of the Er/Yb fiber. We also show that further power scaling is no longer limited by ytterbium parasitic lasing but by fiber fuse in the Er/Yb fiber.