.

Virginia College Savings Plan Lowers Fees and Adds Options

Find the right plan and see how much you can save with a Virginia529 college savings plan.

Recent changes lowered fees and added a new option to the Virginia529 College Savings Plan. Patch file photo.
Recent changes lowered fees and added a new option to the Virginia529 College Savings Plan. Patch file photo.
By Jane Lemons

Saving for college just got a bit less expensive since the Virginia529 College Savings Planreduced administrative fees and added a new age-based savings program at the beginning of 2014.

On Jan. 1, Virginia529 decreased the administrative fee for the inVEST savings program from 0.20 percent to 0.15 percent. The program also has a new age–based evolving portfolio, Rappahannock, suggested for children three and under. 

“We understand that our customers want to save as much as possible to fund their higher education goals,” said Mary Morris, Virginia529 CEO. “Implementing this fee reduction helps their money go further.” 

Virginia529 inVEST is a direct-sold savings Internal Revenue Code Section 529 qualified tuition program offered by Virginia529.inVEST offers portfolios of stocks and bonds, intended specifically to pay for qualified higher education expenses for the designated beneficiary.

The Virginia plan offers 18 investment options, including nine static portfolios and nine age-based evolving portfolios. Read more about the recent changes.

Virginia529 continues to encourage online account openings. To mark the new Rappahannock portfolio and reduced inVEST fees, the agency is offering a waiver of the $25 application fee for those who open an account online at Virginia529.com and use the promo code EDUCATE. 

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something