The fees for investments in the state-managed “College Savings Iowa” program have been reduced. State Treasurer Michael Fitzgerald says the fee has now dipped to one-fifth of one percent.
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Fitzgerald says the fees have fallen 65 percent over the past decade, primarily because administrative costs have remained steady, while participation has increased dramatically.
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The reduced investment fee took effect January 1st. It means investors each year pay only two-dollars for every thousand ($1000) invested.
The governor and legislators created the College Savings Iowa program in 1998. In the past decade, investments in the fund have nearly quadrupled. The fund is only open to Iowa taxpayers.