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Fees & Expenses

The information below describes the fees and expenses that you would pay if you contribute to a particular investment portfolio in ScholarShare 529. These fees are indirectly paid out of the assets of your account. Except for the fees listed below, there are currently no other fees, charges or penalties imposed by or payable to the Plan in connection with opening or maintaining an account.


Enrollment Year Investment Portfolio
Active Enrollment Year Portfolios
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) Board Administrative Fee(1)(3) Estimated Expenses of an Investment Portfolio's Underlying Investments(4) Total Annual Asset-Based Fees(5)
2036/2037 Enrollment Portfolio Active 0.01% 0.05% 0.46% 0.52%
2034/2035 Enrollment Portfolio Active 0.01% 0.05% 0.46% 0.52%
2032/2033 Enrollment Portfolio Active 0.01% 0.05% 0.46% 0.52%
2030/2031 Enrollment Portfolio Active 0.01% 0.05% 0.46% 0.52%
2028/2029 Enrollment Portfolio Active 0.01% 0.05% 0.46% 0.52%
2026/2027 Enrollment Portfolio Active 0.01% 0.05% 0.45% 0.51%
2024/2025 Enrollment Portfolio Active 0.01% 0.05% 0.45% 0.51%
2022/2023 Enrollment Portfolio Active 0.01% 0.05% 0.40% 0.46%
2020/2021 Enrollment Portfolio Active 0.01% 0.05% 0.29% 0.35%
Enrollment Year Portfolio Active 0.01% 0.05% 0.22% 0.28%

Passive Enrollment Year Portfolios
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) Board Administrative Fee(1)(3) Estimated Expenses of an Investment Portfolio's Underlying Investments(4) Total Annual Asset-Based Fees(5)
2036/2037 Enrollment Portfolio Passive 0.01% 0.00% 0.11% 0.12%
2034/2035 Enrollment Portfolio Passive 0.01% 0.00% 0.11% 0.12%
2032/2033 Enrollment Portfolio Passive 0.01% 0.00% 0.11% 0.12%
2030/2031 Enrollment Portfolio Passive 0.01% 0.00% 0.11% 0.12%
2028/2029 Enrollment Portfolio Passive 0.01% 0.00% 0.12% 0.13%
2026/2027 Enrollment Portfolio Passive 0.01% 0.00% 0.12% 0.13%
2024/2025 Enrollment Portfolio Passive 0.01% 0.00% 0.13% 0.14%
2022/2023 Enrollment Portfolio Passive 0.01% 0.00% 0.12% 0.13%
2020/2021 Enrollment Portfolio Passive 0.01% 0.00% 0.09% 0.10%
Enrollment Year Portfolio Passive 0.01% 0.00% 0.07% 0.08%
Multi-Fund Investment Portfolios

Active Multi-Fund Investment Portfolios
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) Board Administrative Fee(1)(3) Estimated Underlying Fund Expenses(4) Total Annual Asset-Based Fees(5)
Active Diversified Equity Portfolio 0.01% 0.05% 0.47% 0.53%
Active Growth Portfolio
0.01% 0.05% 0.46% 0.52%
Active Moderate Growth Portfolio
0.01% 0.05% 0.45% 0.51%
Active Conservative Portfolio
0.01% 0.05% 0.22% 0.28%
Active International Equity Portfolio
0.01% 0.05% 0.29% 0.35%
Active Diversified Fixed Income Portfolio 0.01% 0.05% 0.43% 0.49%

Passive Multi-Fund Investment Portfolios
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) Board Administrative Fee(1)(3) Estimated Underlying Fund Expenses(4) Total Annual Asset-Based Fees(5)
Passive Diversified Equity Portfolio 0.01% 0.00% 0.09% 0.10%
Passive Growth Portfolio
0.01% 0.00% 0.12% 0.13%
Passive Moderate Growth Portfolio
0.01% 0.00% 0.14% 0.15%
Passive Conservative Portfolio
0.01% 0.00% 0.08% 0.09%
Index International Equity Portfolio 0.01% 0.00% 0.09% 0.10%
Passive Diversified Fixed Income Portfolio
0.01% 0.00% 0.17% 0.18%
Single-Fund Portfolios
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) Board Administrative Fee(1)(3) Estimated Underlying Fund Expenses(4) Total Annual Asset-Based Fees(5)
Social Choice Portfolio
0.01% 0.05% 0.17% 0.23%
Index Bond Portfolio
0.01% 0.00% 0.11% 0.12%
Index U.S. Large Cap Equity Portfolio
0.01% 0.00% 0.05% 0.06%
Index U.S. Equity Portfolio 0.01% 0.00% 0.05% 0.06%
Principal Plus Interest Portfolio6 N/A N/A N/A N/A

(1) Although the Plan Manager Fee and the Board Administrative Fee, if any, are deducted from an Investment Portfolio, not from your Account, each Account in the Investment Portfolio indirectly bears its pro rata share of the Plan Manager Fee and the Board Administrative Fee as these fees reduce the Investment Portfolio's return.

(2) Each Investment Portfolio (with the exception of the Principal Plus Interest Portfolio) pays the Plan Manager a fee at an annual rate of 0.01% of the average daily net assets held by that Investment Portfolio.

(3) Certain Investment Portfolios pay to the Board a fee equal to 0.05% of the average daily net assets held by such Investment Portfolios to pay for expenses related to the administration of the Plan.

(4) The percentages set forth in this column are based on the expense ratios of the mutual funds in which an Investment Portfolio invests. The amounts are calculated using the expense ratio reported in each mutual fund's prospectus effective as of the date this Plan Description was finalized for printing, and are weighted according to the Investment Portfolio’s allocation among the mutual funds in which it invests. Although these expenses are not deducted from an Investment Portfolio's assets, each Investment Portfolio (other than the Principal Plus Interest Portfolio, which does not invest in mutual funds) indirectly bears its pro rata share of the expenses of the mutual funds in which it invests as these expenses reduce such mutual fund's return.

(5) These figures represent the estimated weighted annual expense ratios of the mutual funds in which the Investment Portfolios invest plus the fees paid to the Plan Manager and to the Board.

(6) The Principal Plus Interest Portfolio does not pay a Plan Manager Fee or a Board Administrative Fee. TIAA-CREF Life Insurance Company ("TIAA-CREF Life"), the issuer of the funding agreement in which this Investment Portfolio invests and an affiliate of TFI, makes payments to the Plan Manager. TIAA-CREF Life also pays the Board a fee, equal to 0.05% of the average daily net assets held by the Principal Plus Interest Portfolio. These payments, among many other factors, are considered by the issuer when determining the interest rate(s) credited under the funding agreement.

The example in the following table is intended to help you compare the cost of investing in the different investment portfolios over various periods of time. This hypothetical example assumes that:

  • You invest $10,000 in an investment portfolio for the time periods shown below.
  • Your investment has a 5% compounded return each year, except for the Principal Plus Interest Portfolio.
  • You withdraw the assets from the investment portfolio at the end of the specified periods for Qualified Higher Education Expenses.
  • Total annual asset-based fees remain the same as shown in the Fee Table above.
  • The example does not consider the impact of any potential state or federal taxes on the withdrawal.

Although your actual costs may be higher or lower, based on the above assumptions your costs would be:

Investment Cost Example
Investment Portfolio Approximate Cost of $10,000 Investment
  1 Year 3 Years 5 Years 10 Years
Active Enrollment Year Portfolios
2036/2037 Enrollment Portfolio Active $53 $167 $291 $654
2034/2035 Enrollment Portfolio Active $53 $167 $291 $654
2032/2033 Enrollment Portfolio Active $53 $167 $291 $654
2030/2031 Enrollment Portfolio Active $53 $167 $291 $654
2028/2029 Enrollment Portfolio Active $53 $167 $291 $654
2026/2027 Enrollment Portfolio Active $52 $164 $286 $642
2024/2025 Enrollment Portfolio Active $52 $164 $286 $642
2022/2023 Enrollment Portfolio Active $47 $148 $258 $580
2020/2021 Enrollment Portfolio Active $36 $113 $197 $444
Enrollment Year Portfolio Active $29 $90 $158 $356
Passive Enrollment Year Portfolios
2036/2037 Enrollment Portfolio Passive $12 $39 $68 $154
2034/2035 Enrollment Portfolio Passive $12 $39 $68 $154
2032/2033 Enrollment Portfolio Passive $12 $39 $68 $154
2030/2031 Enrollment Portfolio Passive $12 $39 $68 $154
2028/2029 Enrollment Portfolio Passive $13 $42 $73 $167
2026/2027 Enrollment Portfolio Passive $13 $42 $73 $167
2024/2025 Enrollment Portfolio Passive $14 $45 $79 $179
2022/2023 Enrollment Portfolio Passive $13 $42 $73 $167
2020/2021 Enrollment Portfolio Passive $10 $32 $57 $128
Enrollment Year Portfolio Passive $8 $26 $45 $103
Multi-Fund Portfolio Options
Active Diversified Equity Portfolio $54 $170 $297 $666
Active Growth Portfolio
$53 $167 $291 $654
Active Moderate Growth Portfolio
$52 $164 $286 $642
Active Conservative Portfolio
$29 $90 $158 $356
Active International Equity Portfolio
$36 $113 $197 $444
Active Diversified Fixed Income Portfolio $50 $158 $275 $617
Passive Diversified Equity Portfolio $10 $32 $57 $128
Passive Growth Portfolio
$13 $42 $73 $167
Passive Moderate Growth Portfolio
$15 $48 $85 $192
Passive Conservative Portfolio
$9 $29 $51 $116
Passive Diversified Fixed Income Portfolio
$18 $58 $102 $230
Index International Equity Portfolio $10 $32 $57 $128
Single Fund Portfolio Options
Social Choice Portfolio
$24 $74 $130 $293
Index Bond Portfolio
$12 $39 $68 $154
Index U.S. Large Cap Equity Portfolio
$6 $19 $34 $77
Index U.S. Equity Portfolio $6 $19 $34 $77
Guaranteed Investment Option
Principal Plus Interest Portfolio N/A N/A N/A N/A

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