Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:T. Rowe Makes Saving for College Cheaper Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, June 29, 2010

T. Rowe Makes Saving for College Cheaper

Reported by Neil Anderson, Managing Editor

T. Rowe Price just cut two fees for its 529 offering. Yesterday the Baltimore-based mutual fund firm revealed a nearly 33 percent drop in its T. Rowe Price College Savings Plan and the University of Alaska College Savings Plan program fee to 0.20 basis points and a 20 percent drop in the annual account fee to $20.

That annual $20 fee is waived for those who use regular payroll deductions, have at least $25,000 invested for a single child or have at least $75,000 invested for multiple children.

Between the two 529 offerings, T. Rowe boasts $1.2 billion in 529 assets, as of March 31, out its $419 billion in total assets.


Company Press Release

BALTIMORE, June 28 -- T. Rowe Price and the Education Trust of Alaska today announced a reduction in fees on the T. Rowe Price College Savings Plan, which is available to college savers nationwide.  Effective July 1, 2010, the program fee will be cut by nearly one-third to 0.20% and the annual account fee by 20% to $20.

These reductions represent the T. Rowe Price College Savings Plan's continuing long-term commitment to helping families save for college. By reducing the plan's costs, account holders will keep a greater proportion of the investment returns from the college savings portfolios.

"We understand the challenge parents and students face in meeting and financing the cost of a college education," said Edward C. Bernard, vice chairman of T. Rowe Price Group. "Therefore, we continue to strive to help our customers get more value from their college savings plan so that they can successfully achieve their higher-education goals."

While the annual account fee has been reduced to $20, the fee is waived for customers who:

  • Invest regularly with payroll deductions or Automatic Asset Builder or

  • Have $25,000 or more invested for one child or

  • Have a total of $75,000 or more invested for multiple children.

    Fees will be lowered on both the T. Rowe Price College Savings Plan and the University of Alaska College Savings Plan, which combined had $1.2 billion in assets as of March 31, 2010. Both offer Enrollment-Based Portfolios that periodically adjust to reflect the beneficiary's investing time horizon as he or she gets closer to expected college entry, as well as five Static Portfolios.

    For more information about the T. Rowe Price College Savings Plan, please visit www.price529.com or call 1- 800-369-3641.

    The T. Rowe Price College Savings Plan, offered by the Education Trust of Alaska, is a national 529 college savings plan. T. Rowe Price also manages the Maryland College Investment Plan and the University of Alaska College Savings Plan, two 529 savings plans.

    Founded in 1937, Baltimore-based T. Rowe Price (Nasdaq: TROW) is a global investment management organization with $419.0 billion in assets under management as of March 31, 2010. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. More information is available at www.troweprice.com.

    SOURCE T. Rowe Price 

    Stay ahead of the news ... Sign up for our email alerts now
    CLICK HERE

  • 0.0
     Do You Recommend This Story?



    GO TO: MFWire
    Return to Top
     News Archives
    2025: Q3Q2Q1
    2024: Q4Q3Q2Q1
    2023: Q4Q3Q2Q1
    2022: Q4Q3Q2Q1
    2021: Q4Q3Q2Q1
    2020: Q4Q3Q2Q1
    2019: Q4Q3Q2Q1
    2018: Q4Q3Q2Q1
    2017: Q4Q3Q2Q1
    2016: Q4Q3Q2Q1
    2015: Q4Q3Q2Q1
    2014: Q4Q3Q2Q1
    2013: Q4Q3Q2Q1
    2012: Q4Q3Q2Q1
    2011: Q4Q3Q2Q1
    2010: Q4Q3Q2Q1
    2009: Q4Q3Q2Q1
    2008: Q4Q3Q2Q1
    2007: Q4Q3Q2Q1
    2006: Q4Q3Q2Q1
    2005: Q4Q3Q2Q1
    2004: Q4Q3Q2Q1
    2003: Q4Q3Q2Q1
    2002: Q4Q3Q2Q1
     Subscribe via RSS:
    Raw XML
    Add to My Yahoo!
    follow us in feedly


      Sorry, no records in the database matched your search parameters. Clich back and try again.



    1. Nicsa webinar - New research by Alex Edmans and the Diversity Project - The Power of diverse thinking: How the best teams make decisions, July 1
    2. MFDF Director Discussion Series - Open Forum, July 9
    3. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
    4. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
    5. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
    6. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
    7. MFDF webinar - M&A and Consolidation in Asset Management, July 16
    8. MFDF webinar - ETF Conversions, July 17
    9. MFDF Director Discussion Series - Open Forum (New York), July 22
    10. MFDF Ask Anything webinar - AI Edition, July 24
    11. MFDF webinar - Use of Derivatives by RICs, July 29
    12. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
    13. Samfund Soiree Boston 2025, August 21
    14. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
    15. ICI ETF Conference, Sep 8-10
    16. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
    17. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
    18. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
    19. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
    20. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
    21. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
    22. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
    23. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
    24. 10th annual Fuse Forum, October 8
    25. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
    26. 2025 MMI Annual Conference, Oct 15-17




    ©All rights reserved to InvestmentWires, Inc. 1997-2025
    14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
    Privacy Policy :: Terms of Use