There is a $25 non-refundable application fee. There are no investment fees or annual maintenance charges related to a VPEP account.

Type of Fee		Amount
Application fee		$25
Cancellation fee (Fee waived in case of the Beneficiary's death, disability or scholarship. Refunds for reasons other than the Beneficiary's death, disability or receipt of a scholarship are also subject to a federal tax penalty of 10% of any earnings.)		$25
Cancellation for misrepresentation		Lesser of $500.00 or 100% of payments to date
Late fee on monthly payment received more than 15 days past the due date		Lesser of $15.00 or 5% of monthly payment
Late fee for lump-sum payment		1% of outstanding balance per month
Non-sufficient funds		$25
Change in monthly payment amount (Prepayment minimum is $1,000 to change payment amount)		$25
Change in payment plan option		$25
Rollover/Conversion to a different plan (Fee waived for rollover to the Virginia Education Savings Trust or CollegeAmerica)		$25
Change of Account Owner (Fee waived in case of Account Owner's death or disability)		$10
Document replacement fee (Example, duplicate coupon book)		$5
Start college earlier than projected enrollment date		$50
Expedited Distribution Request		$50
Receipt of Wire Transfer		Fee pass-through of bank charge
Other administrative fees		Set by Board