PRESS RELEASES AND ARTICLES
T. Rowe Price College Savings Plan and Alaska 529 to enhance investment options and reduce fees
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.
Alaska 529 announces its 11th $25,000 scholarship account winner
Alaska 529 announced that one-year-old, Boon Branson, of Fairbanks, Alaska, is the 2020 winner of its annual $25,000 scholarship account giveaway. He may use his account at any college, university, vocational or technical school that accepts federal financial aid. To date, Boon is the youngest recipient to have received the scholarship.
Branson, who celebrated his first birthday on September 28, was awarded the scholarship account during a small gathering on September 29. Alaska 529 representatives and their mascot, Dash, joined the family and a few friends at the Fairbanks Children’s Museum on Tuesday evening to officiate a check presentation. The reason for their presence was a surprise to the guests.
After 18 years, the UA College Savings Plan Launches New Brand
The UA College Savings Plan announced that it is changing its name to Alaska 529 as of October 15, 2019. The Alaska-based education savings plan is offered by the Education Trust of Alaska.
After 2017 tax reform expanded the use of 529 plans, the Education Trust of Alaska determined the need for a name and a brand that better represents the products and services it provides.