UA College Savings Plan reduces fees

The University of Alaska College Savings Plan today announced a significant reduction in fees.

Effective July 1, 2010, the program fee will be cut by nearly one-third, to 0.20 percent. In addition, the annual account fee will be reduced by $5, to $20.

These reductions represent the UA College Savings Plan's continuing long-term commitment to help Alaska families save for college. By reducing the plan's costs, account holders will have more money invested toward their college savings goals.

"We want to make it as easy as possible for Alaska families to save for college and we're dedicated to offering strong, professionally-managed investment options at a low-cost," said Linda English, executive director of UA College Savings Plan.

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

• Invest regularly with payroll deductions or automatic monthly contributions, or;
• Have $25,000 or more invested for one child, or;
• Have a total of $75,000 or more invested for multiple children.

Additionally, account holders in the ACT Portfolio, which allows participants to purchase tuition now for use in the future, do not pay an annual account or program fee.

For more information, please call Linda English at (907) 450-8115. For more about the UA College Saving Plan, please visit www.uacollegesavings.com or call 1 (866) 277-1005.