T. ROWE PRICE COLLEGE SAVINGS PLAN BECOMES "T. ROWE PRICE 529" TO REFLECT EXPANDED FLEXIBILITY FOR EDUCATION EXPENSES

This name change coincides with the Plan's 25^th anniversary, which T. Rowe Price and the Education Trust of Alaska are commemorating with a $250 matching incentive for new savers

BALTIMORE, April 7, 2026 /PRNewswire/ -- T. Rowe Price, a global asset management firm and a leader in retirement, today announced the renaming of its longstanding "T. Rowe Price College Savings Plan" to "T. Rowe Price 529." The name change to the firm's Morningstar Gold-rated national planⁱ was made to more accurately reflect the growing range of educational expenses these tax-advantaged accounts can support. While 529 plans have typically been associated with traditional four-year college tuition, federal legislation continues to expand how accounts can be used, to include: apprenticeship programs, student loan repayments up to a certain amount, and other qualified expenses.ⁱⁱ

"We've seen firsthand how starting early--even starting with modest contributions--can make a meaningful difference for families preparing for future education expenses," said Roger Young, CFP^®, thought leadership director at T. Rowe Price. "With the expanded flexibility now granted to 529s, families may benefit from valuable tax advantages that can be applied to a broader range of educational expenses than ever before."

Celebrating 25 Years of Education Savings With $250 Matching Incentive

The renaming of the plan coincides with the 25^th anniversary of T. Rowe Price and the Education Trust of Alaska offering its 529 savings program. To mark the milestone, the Education Trust of Alaska is funding a limited-time incentive program designed to encourage new account openings and early savings. New accounts opened with a contribution of at least $250 in 2026 will be eligible to receive a matched $250 payment to be deposited in February of next year.ⁱⁱⁱ

"Over the last 25 years, we've had the privilege of supporting families as they plan and save for one of life's most important milestones--education," said Mark Scarborough, head of T. Rowe Price's 529 program. "Over that time, we've seen the powerful role 529 plans can play in helping families prepare for the future, and that perspective continues to guide our work today. We remain committed to encouraging families to take the first step, start early, and build a path forward--so that they can plan for the future with confidence."

As part of the firm's ongoing efforts to support education planning--and in recognition of 529 Day, T. Rowe Price 529 will partner with savingforcollege.com to host an educational webinar on May 28th to explore key considerations and practical strategies for families at all stages of their savings journey.

T. Rowe Price's 529 program leverages the firm's disciplined investment approach, providing families with access to diversified, actively managed portfolios designed to support long-term education savings goals. More information about T. Rowe Price 529 and the anniversary incentive program can be found here.

ABOUT T. ROWE PRICE

T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.80 trillion in client assets as of February 28, 2026, about two-thirds of which are retirement-related. Renowned for over 85 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its longstanding expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amidst evolving markets.

Visit troweprice.com/newsroom for news and public policy commentary.

The T. Rowe Price 529 Plan is offered by the Education Trust of Alaska. You should compare this Plan with any 529 plan offered by your home state or your beneficiary's home state and consider, before investing, any state tax or other state benefits, such as financial aid, scholarship funds, or protection from creditors that are only available for investments in the home state's plan. Please read and/or download thePlan Disclosure Document, which includes investment objectives, risks, fees, charges and expenses, and other information that you should read and consider carefully before investing, or call1-866-521-1894to request a paper copy. For other important legal information, please read thePlan's Privacy Policy.

T. Rowe Price Investment Services, Inc., Distributor/Underwriter.

The availability of tax benefits may be conditioned on meeting certain requirements such as residency, purpose for or timing of distributions, or other factors as applicable. While qualified withdrawals from 529 plans for K-12 expenses are federally tax-free, state tax treatment will vary and could include state income taxes assessed, the recapture of previously deducted amounts from state taxes, and/or state-level penalties.

All investments are subject to market risk, including the possible loss of principal.

ⁱ Morningstar analysts reviewed 59 plans for its 2025 ratings (11/10/25), of which 5 plans received a "Gold" rating. To determine a plan's rating, Morningstar's analysts organized their research around 4 key pillars: Process, People, Parent, and Price. Plans were then assigned forward-looking ratings of "Gold," "Silver," "Bronze," "Neutral," and "Negative." Each year, certain of the industry's smallest plans are not rated. Click here for more information on the criteria used in compiling a plan's 529 ratings.
Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar analysts' current expectations about future events and, therefore, involve unknown risks and uncertainties that may cause Morningstar's expectations not to occur or to differ significantly from what was expected. Morningstar does not represent its Analyst Ratings to be guarantees. ©2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

ⁱⁱ For more information on approved uses, please visit https://www.troweprice529.com/home/learn.html#approved-uses

ⁱⁱⁱ This program is subject to terms and conditions. Please visit https://www.troweprice529.com/home/learn.html#account-momentum-program for more details

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SOURCE T. Rowe Price Group