New and Expectant Parents

As you cherish this time together with your growing family, the Maryland College Investment Plan is here to help.

What’s best for them? Like many new parents, it’s a question you keep asking yourself again and again. And while it may be difficult to think about saving for future higher education expenses when college is 18 years away – or longer – saving now can help make a big difference later.

The Maryland College Investment Plan has helped over a quarter million families invest in a brighter future for over 20 years. Whether planning for college, trade school, or an apprenticeship, you can save here, so your kids can go anywhere.

Learn more about how Maryland 529 plans work

Maximizing your State taxable income subtraction
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Advantages of saving for college versus borrowing
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About the Maryland College Investment Plan

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Maryland Senator Edward J. Kasemeyer

College Investment Plan

Save for education your way with the freedom to choose how to invest, how much and how often based on your budget and goals.

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The College Investment Plan offers:

Affordability—Begin with just $25.

Freedom—Choose from a broad range of investment options managed by T. Rowe Price, an investment management firm with more than 80 years experience.

Flexibility—Use your savings at nearly any public/private college or trade/technical school in the U.S. and even international universities that have a federal school code.

Unique Tax Benefits—you may be eligible for federal and Maryland State tax benefits. Availability—Open an Account anytime for anyone.

Gifting—Enroll in GoTuition®​ gifting portal a convenient way for friends and family to turn traditional gift giving into the gift of an education.*

College Investment Plan

You can open an Account for your child at any time. When you have the child’s Social Security number, he or she can be set up as the Beneficiary. Or you may open an Account naming yourself as the Beneficiary in anticipation of the birth or adoption of a new child. You can then change the Beneficiary to be your child at a later date. You will just need the child’s Social Security number before requesting a Beneficiary change.

How can grandparents help with saving for college?

Did you know that grandparents can help pay for their grandchildren’s future education expenses while also taking advantage of a variety of tax benefits? Learn more.

Have additional questions?

Please contact one of our College Savings Specialists at 888-4MD-GRAD (888-463-4723), Option 1. Hours and more specific contact information can be found here.

Please note that the availability of tax or other benefits may be conditioned on meeting certain requirements such as residency, purpose for or timing of distributions, or other factors, as applicable.

Earnings on a distribution not used for qualified expenses may be subject to income taxes and a 10% federal penalty. State tax laws and treatment may vary. Please check with your state or a tax professional regarding the specific tax rules for your state.