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View More Press Releases by T. Rowe Price

Press Release

T. Rowe Price College Savings Plan and Alaska 529 to Enhance Investment Options and Reduce Fees

Issued by T. Rowe Price

Oct. 7, 2020

Changes will result in an expected 8.2% reduction in plan expenses; equating to savings for account holders of $1.7 million annually.

BALTIMORE, October 7, 2020 – T. Rowe Price and the Education Trust of Alaska announced today the rollout of investment enhancements and reduced fees on the T. Rowe Price College Savings Plan and Alaska 529, which will be available to college savers nationwide this November and will be fully phased in through 2021. 

The investment enhancements include increasing equity diversification in the enrollment-based portfolios and converting underlying funds in all portfolios to a lower-cost share class where possible. Once fully phased in, the changes will result in an expected 8.2% reduction in expenses and save account holders the equivalent of $1.7 million annually.

“We understand the challenge parents and students face in meeting and financing the cost of a college education,” said Christine Akins, head of college savings at T. Rowe Price. “These changes represent our continuing long-term commitment to helping families save for college so that they can successfully achieve their higher-education goals."

Current account holders do not need to take any action. They will receive more information about the changes in mid-October.

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