DC Announces New Administrator for College Savings Plans

Changes are coming for D.C.'s 529 college savings program, recently the focus of a News4 I-Team investigation.

In October, the I-Team created a special 529 calculator (below) that found many D.C. residents can save thousands of dollars by investing in another state's plan because D.C.'s fees are so high.

The city just announced a new administrator, Ascensus College Savings, will now manage the District's plan, introducing a new investment lineup and reduced fees for users.

The transition will take a few months.

D.C. Councilman Charles Allen said the I-Team helped put a spotlight on the issue, and he hopes the change will bring a more competitive rate for District parents.

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