Finally, a sliver of good news on the college financing front.
Although the cost of a four-year degree continues to climb, one modest fee associated with saving money for college is declining.
The Massachusetts Educational Financing Authority and Fidelity Investments, the administrator of the state’s college savings plan, said Friday that the program management fees will be cut by 40 percent.
For a typical account balance of $10,000, the fees will drop by $6, to between $19 and $29 a year depending on the portfolio, said Keith Bernhardt, the vice president of college savings at Fidelity.
That reduction would make the state’s U.Fund 529 Index Portfolio fees among the lowest in the nation, Bernhardt said. Full story for BostonGlobe.com subscribers.