T. Rowe Price has reduced the expense fee it charges for managing Alaska’s in-state and national direct-sold 529 college savings plans by 8.2%.
The Baltimore, Maryland-based money manager said the cuts will save account holders about $1.7 million a year once they are fully phased in.
The University of Alaska serves as trustee and T. Rowe Price serves as program manager for Education Trust of Alaska, which offers three 529 savings plans: Alaska 529, which is marketed directly to investors within Alaska; the T. Rowe Price College Savings Plan, which is marketed directly to investors nationwide; and the John Hancock Freedom 529, marketed nationally through financial advisers.
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