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)
2038/2039 Enrollment Portfolio Active 0.01% 0.05% 0.33% 0.39%
2036/2037 Enrollment Portfolio Active 0.01% 0.05% 0.33% 0.39%
2034/2035 Enrollment Portfolio Active 0.01% 0.05% 0.34% 0.40%
2032/2033 Enrollment Portfolio Active 0.01% 0.05% 0.34% 0.40%
2030/2031 Enrollment Portfolio Active 0.01% 0.05% 0.34% 0.40%
2028/2029 Enrollment Portfolio Active 0.01% 0.05% 0.35% 0.41%
2026/2027 Enrollment Portfolio Active 0.01% 0.05% 0.34% 0.40%
2024/2025 Enrollment Portfolio Active 0.01% 0.05% 0.29% 0.35%
2022/2023 Enrollment Portfolio Active 0.01% 0.05% 0.22% 0.28%
Enrollment Year Portfolio Active 0.01% 0.05% 0.18% 0.24%

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)
2038/2039 Enrollment Portfolio Passive 0.01% 0.00% 0.06% 0.07%
2036/2037 Enrollment Portfolio Passive 0.01% 0.00% 0.06% 0.07%
2034/2035 Enrollment Portfolio Passive 0.01% 0.00% 0.07% 0.08%
2032/2033 Enrollment Portfolio Passive 0.01% 0.00% 0.07% 0.08%
2030/2031 Enrollment Portfolio Passive 0.01% 0.00% 0.07% 0.08%
2028/2029 Enrollment Portfolio Passive 0.01% 0.00% 0.07% 0.08%
2026/2027 Enrollment Portfolio Passive 0.01% 0.00% 0.07% 0.08%
2024/2025 Enrollment Portfolio Passive 0.01% 0.00% 0.06% 0.07%
2022/2023 Enrollment Portfolio Passive 0.01% 0.00% 0.04% 0.05%
Enrollment Year Portfolio Passive 0.01% 0.00% 0.04% 0.05%

ESG Enrollment Year Portfolios(7)
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)
2038/2039 Enrollment Portfolio ESG 0.01% 0.05% 0.23% 0.29%
2036/2037 Enrollment Portfolio ESG 0.01% 0.05% 0.23% 0.29%
2034/2035 Enrollment Portfolio ESG 0.01% 0.05% 0.22% 0.28%
2032/2033 Enrollment Portfolio ESG 0.01% 0.05% 0.22% 0.28%
2030/2031 Enrollment Portfolio ESG 0.01% 0.05% 0.22% 0.28%
2028/2029 Enrollment Portfolio ESG 0.01% 0.05% 0.21% 0.27%
2026/2027 Enrollment Portfolio ESG 0.01% 0.05% 0.19% 0.25%
2024/2025 Enrollment Portfolio ESG 0.01% 0.05% 0.16% 0.22%
2022/2023 Enrollment Portfolio ESG 0.01% 0.05% 0.11% 0.17%
Enrollment Year Portfolio ESG 0.01% 0.05% 0.09% 0.15%
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% 0.32% 0.38%
Active Growth Portfolio
0.01% 0.05% 0.34% 0.40%
Active Conservative Portfolio
0.01% 0.05% 0.19% 0.25%
Active International Equity Portfolio
0.01% 0.05% 0.22% 0.28%

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% 0.06% 0.07%
Passive Growth Portfolio
0.01% 0.00% 0.07% 0.08%
Passive Conservative Portfolio
0.01% 0.00% 0.04% 0.05%
Index International Equity Portfolio 0.01% 0.00% 0.08% 0.09%
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 Equity Portfolio
0.01% 0.05% 0.18% 0.24%
ESG International Equity Portfolio
0.01% 0.05% 0.40% 0.46%
ESG Bond Portfolio(7)
0.01% 0.05% 0.15% 0.21%
Index Bond Portfolio
0.01% 0.00% 0.08% 0.09%
Index U.S. Equity Portfolio 0.01% 0.00% 0.05% 0.06%
Principal Plus Interest Portfolio(6) 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.

(7) These Portfolios invest all or a portion of their assets in ETFs. Because ETFs are traded on a securities exchange, Portfolios that invest in ETFs will pay transaction costs when buying and selling shares of an ETF. These transaction costs are not listed in the table.

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
2038/2039 Enrollment Portfolio Active $40 $126 $219 $494
2036/2037 Enrollment Portfolio Active $40 $126 $219 $494
2034/2035 Enrollment Portfolio Active $41 $129 $225 $506
2032/2033 Enrollment Portfolio Active $41 $129 $225 $506
2030/2031 Enrollment Portfolio Active $41 $129 $225 $506
2028/2029 Enrollment Portfolio Active $42 $132 $230 $518
2026/2027 Enrollment Portfolio Active $41 $129 $225 $506
2024/2025 Enrollment Portfolio Active $36 $113 $197 $444
2022/2023 Enrollment Portfolio Active $29 $90 $158 $356
Enrollment Year Portfolio Active $25 $77 $135 $306
Passive Enrollment Year Portfolios
2038/2039 Enrollment Portfolio Passive $7 $23 $40 $90
2036/2037 Enrollment Portfolio Passive $7 $23 $40 $90
2034/2035 Enrollment Portfolio Passive $8 $26 $45 $103
2032/2033 Enrollment Portfolio Passive $8 $26 $45 $103
2030/2031 Enrollment Portfolio Passive $8 $26 $45 $103
2028/2029 Enrollment Portfolio Passive $8 $26 $45 $103
2026/2027 Enrollment Portfolio Passive $8 $26 $45 $103
2024/2025 Enrollment Portfolio Passive $7 $23 $40 $90
2022/2023 Enrollment Portfolio Passive $5 $16 $28 $64
Enrollment Year Portfolio Passive $5 $16 $28 $64
ESG Enrollment Year Portfolios
2038/2039 Enrollment Portfolio ESG $30 $93 $163 $369
2036/2037 Enrollment Portfolio ESG $30 $93 $163 $369
2034/2035 Enrollment Portfolio ESG $29 $90 $158 $356
2032/2033 Enrollment Portfolio ESG $29 $90 $158 $356
2030/2031 Enrollment Portfolio ESG $29 $90 $158 $356
2028/2029 Enrollment Portfolio ESG $28 $87 $152 $344
2026/2027 Enrollment Portfolio ESG $26 $81 $141 $318
2024/2025 Enrollment Portfolio ESG $23 $71 $124 $281
2022/2023 Enrollment Portfolio ESG $17 $55 $96 $217
Enrollment Year Portfolio ESG $15 $48 $85 $192
Multi-Fund Portfolio Options
Active Diversified Equity Portfolio $39 $122 $214 $481
Active Growth Portfolio
$41 $129 $225 $506
Active Conservative Portfolio
$26 $81 $141 $318
Active International Equity Portfolio
$29 $90 $158 $356
Passive Diversified Equity Portfolio $7 $23 $40 $90
Passive Growth Portfolio
$8 $26 $45 $103
Passive Conservative Portfolio
$5 $16 $28 $64
Index International Equity Portfolio $9 $29 $51 $116
Single Fund Portfolio Options
Social Choice Equity Portfolio
$25 $77 $135 $306
ESG International Equity Portfolio
$47 $148 $258 $580
ESG Bond Portfolio
$22 $68 $118 $268
Index Bond Portfolio
$9 $29 $51 $116
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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