(Nevada Appeal Capitol Bureau) - Treasurer Kate Marshall has announced that one of the administrators of the state's college savings plan is cutting its fees.
The Vanguard 529 College Savings Plan has agreed to reduce fees charged those participating in the direct-sold plan from 0.44 percent to 0.25 percent.
Marshall said that will be accompanied by reductions in the plan's 19 other individual portfolios.
She said that is the fourth reduction in fees charged by different administrators of the state-run plans in the past 18 months.
She said it will save account holders a total of $8.5 million a year, which should help families in their efforts to save for their children's college educations.
Vanguard has assets of more than $4.5 billion with 170,000 account owners nationwide including 2,300 Nevada families.