Vanguard is reducing the fees on its offerings in the Vanguard 529 College Savings Plan, sponsored by Nevada, by 10 to 12 basis points, the company announced Thursday. As a result, investors will save more than $2 million a year, Vanguard estimated.

Once the reductions become effective on Dec. 1, the costs on 11 of the 22 investment choices, including the three popular age-based options, will be 50 basis points, with the remaining choices costing no more than 70 basis points.

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