Home / Our Plan / Fees and Expenses The following table describes the fees and expenses that you pay if you open and contribute to an account in the Minnesota College Savings Plan. These fees are directly or 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 or payable in connection with opening or maintaining an account, other than any taxes and related penalties. The Minnesota Higher Education Services Office ("Office") or the Minnesota State Board of Investment ("Board") reserve the right to change the current fees, or to impose new or additional fees, expenses, charges or penalties in the future. Fee Table (1) Investment Option Estimated Underlying Mutual Fund Expenses (2) Plan Manager Fee (3) Total Annual Asset-Based Fees (4) Other Fees Managed Allocation Option -- -- -- -- Age Band 1 (0-3 Years) 0.25%  0.40%  0.65%  None  Age Band 2 (4-7 Years) 0.27%  0.38%   0.65%  None Age Band 3 (8-11 Years) 0.28% 0.37%  0.65%  None Age Band 4 (12-14 Years) 0.29% 0.36%  0.65%  None Age Band 5 (15-17 Years) 0.26% 0.39%  0.65%  None Age Band 6 (18 and over)  0.23% 0.42%  0.65%  None 100% Equity Option 0.24% 0.41% 0.65% None Balanced Option 0.25% 0.40% 0.65% None 100% Fixed-Income Option  0.33% 0.32% 0.65% None Money Market Option  0.14% 0.51% 0.65% None Guaranteed Option None None (5) None None (1) Plan Fees are deducted from Plan assets.  Plan Fees may change at any time.  Although there are no fees deducted from you Account, when you invest in the Plan, you bear a pro rata portion of the Plan expenses because when fees are deducted from Plan assets, the value of your Plan Units is reduced. (2) For each Investment Option (with the exception of the Guaranteed Option), the corresponding amount in the "Estimated Underlying Fund Expenses" column is based on a weighted average of each underlying Mutual Fund's expense charges based on the current prospectus for the TIAA-CREF Institutional Mutual Funds in accordance with the Investment Option's asset allocation among its underlying Mutual Funds.  Each Investment Option that invests in underlying Mutual Funds bears its pro rata portion of the Estimated Underlying Fund Expenses because when fees are deducted from an underlying Mutual Fund's assets, the value of the underlying Mutual Funds's shares is reduced. (3) For its service as Plan Manager, each Investment Option (with the exception of the Guaranteed Option) pays TFI an annual management fee equal to the stated percentage of the average daily net assets held by that Investment Option (the"Plan Manager Fee").  The percentages listed in this column may fluctuate.  For example, if the underlying Mutual Fund expenses increase, then the Plan Manager Fee decreases.  (4) The Total Annual Asset-Based Fees equal the Estimated Underlying Fund Expenses plus the Plan Manager Fee.  The portion of Total Annual Asset-Based Fees attributable to the Plan Manager Fee is assessed over the course of the year against assets in each Investment Option.  The portion of Total Annual Asset-Based Fees attributable to Estimated Underlying Fund Expenses is borne by each Investment Option as discussed in footnote 2 above.  You should refer to the Investment Cost Example table below for the total assumed investment cost over 1-, 3-, 5-, and 10-year periods. (5) The Guaranteed Option does not pay TFI a Plan Manager Fee.  TFI does, however, receive from TIAA-CREF Life, the issuer of the Funding Agreement, an annual asset-based fee to pay TFI for distribution, administration, and other services that TFI provides for this Investment Option.  TIAA-CREF Life may discontinue this fee at any time. Investment Cost Example The example in the following table is intended to help you compare the cost of investing in the different Investment Options over various periods of time. This hypothetical example assumes that: You invest $10,000 in an account for the time periods shown below. Your investment has a 5% compounded return each year, except for the Guaranteed Option, which is assumed to have a 3% compounded return each year. Actual performance will vary. The Guaranteed Option provides a guarantee of principal and a minimum rate of interest to the Minnesota College Savings Plan but not to account owners and beneficiaries. You withdraw the assets from your account at the end of the specified periods to pay 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 redemption. Although your actual costs may be higher or lower, based on the above assumptions your costs would be: Investment Options Approximate Cost of $10,000 Investment     One Year Three Years Five Years Ten Years Managed Allocation Option $67 $209 $363 $812  100% Equity Option $67 $209 $363 $812  Balanced Option $67 $209 $363 $812  100% Fixed-Income Option $67 $209 $363 $812  Money Market Option $67 $209 $363 $812 Guaranteed Option $0 $0 $0 $0 Additional Fees The table below provides information concerning additional fees and expenses deducted from each account/paid directly by the Account Owner.     Percent Dollars Application Fee 0% $0 Cancellation Fee 0% $0 Change in Beneficiary 0% $0 Change in Investment Options 0% $0 Other Charges as Applicable 0% $0

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The investment approaches described are not recommendations and do not take into consideration personal goals or preferences. After evaluating information you consider important in making an investment choice, the ultimate decision is up to you. It is a good idea to revisit your investment strategy periodically as your goals, personal financial situation, and market conditions change.

The tax information contained on the Minnesota College Savings Plan Web site is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed in the Web site. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

Consider the investment objectives, risks, charges and expenses before investing in the Minnesota College Savings Plan. Please call toll-free 1(877) 338-4646 for a Disclosure Booklet containing this information. Read it carefully.

Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state’s 529 plan.

TIAA-CREF Individual & Institutional Services, LLC, distributes Minnesota College Savings Plan. The State of Minnesota, its agencies, TIAA-CREF Tuition Financing, Inc., Teachers Insurance and Annuity Association of America and its affiliates do not insure any account or guarantee its principal or investment return except for TIAA-CREF Life Insurance Company’s guarantee to Minnesota College Savings Plan under the funding agreement for the Guaranteed Option. Account value will fluctuate based upon a number of factors, including general market conditions.

The Minnesota College Savings Plan Web site contains links to other Web sites. Neither Minnesota College Savings Plan nor TIAA-CREF Tuition Financing, Inc. and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.

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© 2007 TIAA-CREF Tuition Financing, Inc. TIAA-CREF Individual & Institutional Services, LLC, distributes Minnesota College Savings Plan. 2008 TIAA-CREF Tuition Financing Inc.