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.