Vanguard is reducing management fees on six portfolios in its 529 College Savings Plan. Investors in the plan, which is sponsored by Nevada, will see expense ratios in selected portfolios go down by seven to 12 basis points, resulting in reductions of 10 to 16 percent.

Officials cited economies of scale as the reason for lower expense ratios. The plan had $650 million in assets in 17 portfolios as of October 15.

Vanguard also added tools to its College Savings Center website, including a plan comparison tool, a college cost planning tool, and a college savings options tool.

Vanguard is also making two changes to the plan: it is replacing the Prime Money Market Portfolio with the Interest Accumulation Portfolio, and moving assets from its Long-Term Bond Index Portfolio to its Total Bond Market Index Portfolio. 

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