|About||Maryland 529, formerly the College Savings Plans of Maryland, provides flexible and affordable 529 plans to help Maryland families save for future college expenses and reduce dependence on student loans later.|
|Mission||Our mission is to provide Maryland families with a simple, convenient way to save for college and give their child a college education without accumulating significant debt.|
Maryland 529 is an independent, non-profit State agency that offers two college saving plans to fit your family's needs:
The Maryland Prepaid College Trust allows you to lock in tomorrow’s tuition at today’s prices, offering affordable and flexible tuition plans and payment plan options at accredited two-year community colleges and four-year colleges and universities.
The Maryland College Investment Plan is managed by T. Rowe Price, an investment leader with more than 75 years of experience, and offers a broad range of different investment options. You can start with as little as $25 a month and choose from two different portfolio approaches or use a combination of both.
Both plans offer tax-deferred growth at the state and federal level. Any earnings in both plans are tax-free when used towards eligible college expenses, and the funds in both plans can be used at schools in and outside of Maryland. In addition, Maryland’s 529 plans are the only plans to offer Maryland taxpayers a State Income Deduction of up to $2,500 per year.*
*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. You should consult with your tax adviser about your specific circumstances.
Maryland College Investment Plan rated "Silver" program by Morningstar.*
*Morningstar analysts reviewed 62 plans for its 2017 ratings (10/24/17), of which 10 plans received a “Silver” rating. To determine a plan’s rating, Morningstar’s analysts considered 5 factors: the plan’s strategy and investment process; the plan’s risk-adjusted performance; an assessment of the individuals managing the plan’s investment options; the stewardship practices of the plan’s administration and parent firm; and whether the plan’s investment options are a good value proposition compared with its peers. 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.
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.
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