I asked a question about a "fund of funds" and was told to watch for the expense ratio of the fund AND the expense ratio of the underlying funds. Sure enough, some of the ones I looked at did have this second layer of expense (not Vanguard).So, being a quick learner, I took a closer look at some of the 529 plansI had been considering for my kids. Guess what? Some charge a yearly fee(up to $30, which can be waived under certain conditions), and the fund management fee (expense ratio), AND the account is charged for the underlying funds. But not the Vanguard Iowa plan...no fee, no charge for underlying funds, just a fairly reasonable expense ratio (.65).The Vanguard plan doesn't have as many investment options as some of the others, but their fee structure kicks all their butts.If I hadn't asked the 1st question, I wouldn't have been as prepared to look for the answer to the 2nd.
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