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Morgan Stanley repays $1.7 million to college savers for high-cost investments



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Michael Nagle/Bloomberg via Getty ImagesMorgan Stanley will repay $1.7 million to customers who paid high costs on investments earmarked for education expenses like college tuition.The brokerage firm is paying the sum, including nearly $1.5 million in restitution plus interest, to about 2,300 customers who are saving money in 529 plans, the Financial Industry Regulatory Authority announced Wednesday.More from Personal Finance:More colleges plan to reopen in the spring, even as Covid cases surgeDead people may still get $600 stimulus checksWith bitcoin near $27,000, now may be the time to give some to charitySavings is these tax-advantaged accounts can be used to pay for …

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