Some of these fees are collected by the state sponsor of the plan and some are collected by the plan manager. Some plans also offer fee waivers if the saver accepts electronic-only delivery of documents or enrolls online. Chat with a representative. What is a Plan? Typically age-based portfolios automatically shift toward more conservative investments as the beneficiary gets closer to college age. You will lose some of these potential benefits if you withdraw money from a plan account within a short period of time after it is contributed. In addition, some education savings plans will waive or reduce the administrative or maintenance fees if you maintain a large account balance, participate in an automatic contribution plan, or are a resident of the state sponsoring the plan.