State Treasurer Michael Fitzgerald announced that the College Savings Iowa 529 plan is reducing its fees by 5% effective Feb. 1, the eighth fee reduction in 15 years. “As the program continues to grow, we’ve been able to assist our current and new account owners by consistently cutting costs,” Fitzgerald said in a news release. “I’m proud to be able to improve the plan and ensure more money stays in parents’ and grandparents’ accounts for the benefit of their families.” The price reduction brings the annual asset-based fees of College Savings Iowa’s portfolios down from 0.20% to 0.19%, a 5% reduction effective Feb. 1. At that rate, investors will pay $1.90 per $1,000 invested annually. Under Fitzgerald’s administration, College Savings Iowa assets have grown to more than $5.9 billion.