Fee Schedule

Summary of Fiduciary and Administrative Fees.

Account Type
Set-Up
Annual
  • College Trust
    $0
    $0*
Fiduciary Services & Administration
Assessed Fees
  • Incoming Funds:
  • Incoming Wire
    $0
  • Incoming Check
    $0
  • Incoming ACH/eCheck
    $0
  • Incoming Credit Card
    3.4%
  • Disbursements:
  • Review & Process One-Time or Initial Disbursement Requests
    $35
  • Process Auto-Recurring Disbursements
    $1
  • Outgoing Funds:
  • Outgoing Wire
    $15 domestic / $30 international
  • Outgoing Check
    $10
  • Outgoing ACH
    $0

* Fee is $0 provided the only asset deposited is cash. For trusts with non-cash deposited assets such as real estate or business interests the annual fee is $795.

Frequently Asked Billing Questions

How much can I put into the account?

Initial Deposit: Unlimited, no restrictions. We recommend that you start your account with a reasonable amount of money in order to get things kicked off. ‘Reasonable’ depends upon your own situation, as on one hand you need to start the program, while on the other hand you have to keep some funds handy for other things in life.

Future Deposits: Unlimited, no restrictions. We suggest committing to a monthly deposit amount that works within your budget. You can always increase this and/or make larger supplemental one-time deposits when good things happen such as a work bonus or raise, a tax refund, a gift or an inheritance.

How do I request a disbursement to pay for something? What's the process?

Easy, just log onto your account and click the link to request a disbursement. This will then send a confirmation email to mom & dad (or whomever the grantor is) with a link they need to click to confirm the request. It is then queued up for trustee review, which is handled pursuant to the trust agreement. Approved requests have funds sent as soon as they are liquid in the account.

Are there limits on contributions?

There are unlimited contributions as there are no tax penalties on college trust accounts in the event that the savings account is overfunded, or if they don't attend college and instead pursue other paths in life. This account has no limits, other than as prescribed by IRS rules (e.g. the $5,000,000 lifetime exemption). 529 Plans, on the other hand, have severe penalties if the account is "over funded" or if not used for exact, limited IRS-approved college expenses..

What do I need to know about taxes?

Unlike an IRA, funds going into a college savings account are via after-tax dollars, not pre-tax (this is true regardless of whether it’s a trust or a 529 Plan). Taxes on investment income and realized capital gains may, or may not, be waived in a 529 Plan. For a 529 Plan to work you need to be 100% sure that your child will wind up going to an accredited college, 100% sure that the tuition and other IRS-approved expenses will be more (not less) than you saved, and 100% sure that you will never, ever need funds for healthcare, phone, travel, tutoring, or any other expenses that are not on the approved short-list. Otherwise you’ll pay not just income taxes but also a 10% penalty on those funds. Even if you do plan perfectly, the inflexibility, lack of asset protection and potential negative impact on grants and financial aid make 529 Plans less than ideal. With a College Savings Trust there are no such restrictions or tax penalties.

Still have questions? Check out our FAQs page

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Ready To Get Started?

Opening a new College Savings Trust is easy and takes just 5 minutes. Simply click the button below and start saving for your child’s future today!

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