ScholarShare College Savings Plan

Fees & Expenses

The information below describes the fees and expenses that you would pay if you contribute to a particular investment option in the ScholarShare College Savings Plan. 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.


Age-Based Portfolio Options
Active Age-Based Investment Portfolio Option
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) Estimated Underlying Fund Expenses(4) Board Administrative Fee(1)(3) Total Annual Asset-Based Fees(5)
Age Band 0‑4 0.03% 0.48% 0.05% 0.56%
Age Band 5‑8 0.03% 0.48% 0.05% 0.56%
Age Band 9‑10 0.03% 0.48% 0.05% 0.56%
Age Band 11‑12 0.03% 0.47% 0.05% 0.55%
Age Band 13‑14 0.03% 0.47% 0.05% 0.55%
Age Band 15 0.03% 0.42% 0.05% 0.50%
Age Band 16 0.03% 0.37% 0.05% 0.45%
Age Band 17 0.03% 0.30% 0.05% 0.38%
Age Band 18+ 0.03% 0.23% 0.05% 0.31%

Passive Age-Based Investment Portfolio Option
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) Estimated Underlying Fund Expenses(4) Board Administrative Fee(1)(3) Total Annual Asset-Based Fees(5)
Age Band 0‑4 0.03% 0.11% 0.00% 0.14%
Age Band 5‑8 0.03% 0.12% 0.00% 0.15%
Age Band 9‑10 0.03% 0.13% 0.00% 0.16%
Age Band 11‑12 0.03% 0.13% 0.00% 0.16%
Age Band 13‑14 0.03% 0.14% 0.00% 0.17%
Age Band 15 0.03% 0.13% 0.00% 0.16%
Age Band 16 0.03% 0.12% 0.00% 0.15%
Age Band 17 0.03% 0.10% 0.00% 0.13%
Age Band 18+ 0.03% 0.08% 0.00% 0.11%
Guaranteed Investment Option
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) Estimated Underlying Fund Expenses(4) Board Administrative Fee(1)(3) Total Annual Asset-Based Fees(5)
Principal Plus Interest None None None None
Multi-Fund Portfolio Options

Active Multi-Fund Investment Portfolios
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) Estimated Underlying Fund Expenses(4) Board Administrative Fee(1)(3) Total Annual Asset-Based Fees(5)
Active Diversified Equity Investment Portfolio 0.03% 0.49% 0.05% 0.57%
Active Growth Investment Portfolio
0.03% 0.48% 0.05% 0.56%
Active Moderate Growth Investment Portfolio
0.03% 0.47% 0.05% 0.55%
Active Conservative Investment Portfolio
0.03% 0.23% 0.05% 0.31%
Active International Equity Investment Portfolio
0.03% 0.36% 0.05% 0.44%
Active Diversified Fixed Income Investment Portfolio 0.03% 0.46% 0.05% 0.54%

Passive Multi-Fund Investment Portfolios
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) Estimated Underlying Fund Expenses(4) Board Administrative Fee(1)(3) Total Annual Asset-Based Fees(5)
Passive Diversified Equity Investment Portfolio 0.03% 0.10% 0.00% 0.13%
Passive Growth Investment Portfolio
0.03% 0.12% 0.00% 0.15%
Passive Moderate Growth Investment Portfolio
0.03% 0.14% 0.00% 0.17%
Passive Conservative Investment Portfolio
0.03% 0.09% 0.00% 0.12%
Index International Equity Investment Portfolio 0.03% 0.09% 0.00% 0.12%
Passive Diversified Fixed Income Investment Portfolio
0.03% 0.17% 0.00% 0.20%
Single-Fund Portfolio Options
Fees and Expenses
Investment Portfolio Plan Manager Fee(1)(2) Estimated Underlying Fund Expenses(4) Board Administrative Fee(1)(3) Total Annual Asset-Based Fees(5)
Social Choice Investment Portfolio
0.03% 0.18% 0.05% 0.26%
Index Bond Investment Portfolio
0.03% 0.12% 0.00% 0.15%
Index U.S. Large Cap Equity Investment Portfolio
0.03% 0.06% 0.00% 0.09%
Index U.S. Equity Investment Portfolio 0.03% 0.05% 0.00% 0.08%

(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 0.03% 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 Disclosure Booklet 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 Age-Based Investment Portfolios
Age Band 0‑4 $57 $180 $314 $703
Age Band 5‑8 $57 $180 $314 $703
Age Band 9‑10 $57 $180 $314 $703
Age Band 11‑12 $56 $177 $308 $691
Age Band 13‑14 $56 $177 $308 $691
Age Band 15 $51 $161 $280 $629
Age Band 16 $46 $145 $253 $568
Age Band 17 $39 $122 $214 $481
Age Band 18+ $32 $100 $174 $394
Passive Age-Based Investment Portfolios
Age Band 0‑4 $14 $45 $79 $179
Age Band 5‑8 $15 $48 $85 $192
Age Band 9‑10 $16 $52 $90 $205
Age Band 11‑12 $16 $52 $90 $205
Age Band 13‑14 $17 $55 $96 $217
Age Band 15 $16 $52 $90 $205
Age Band 16 $15 $48 $85 $192
Age Band 17 $13 $42 $73 $167
Age Band 18+ $11 $36 $62 $141
Multi-Fund Portfolio Options
Active Diversified Equity Investment Portfolio $58 $183 $319 $715
Active Growth Investment Portfolio
$57 $180 $314 $703
Active Moderate Growth Investment Portfolio
$56 $177 $308 $691
Active Conservative Investment Portfolio
$32 $100 $174 $394
Active International Equity Investment Portfolio
$45 $142 $247 $555
Active Diversified Fixed Income Investment Portfolio $55 $174 $302 $678
Passive Diversified Equity Investment Portfolio $13 $42 $73 $167
Passive Growth Investment Portfolio
$15 $48 $85 $192
Passive Moderate Growth Investment Portfolio
$17 $55 $96 $217
Passive Conservative Investment Portfolio
$12 $39 $68 $154
Passive Diversified Fixed Income Investment Portfolio
$21 $64 $113 $255
Index International Equity Investment Portfolio $12 $39 $68 $154
Single Fund Portfolio Options
Social Choice Investment Portfolio
$27 $84 $146 $331
Index Bond Investment Portfolio
$15 $48 $85 $192
Index U.S. Large Cap Equity Investment Portfolio
$9 $29 $51 $116
Index U.S. Equity Investment Portfolio $8 $26 $45 $103
Guaranteed Investment Option
Principal Plus Interest Investment Portfolio $0 $0 $0 $0