MPCT Interest Calculation Issue

Update - November 21, 2022

Maryland 529 remains on track with the projected timeline that was issued on November 4, which can be accessed here.

At this moment, our consultants are working with actual Account figures pulled from our Program Manager Intuition’s database based on priority ranking.  (For additional information about the priority ranking system, please see the FAQs below for “What is considered an “urgent” or “priority” request to trigger the application of the “manual” process?”)

We expect our consultants to complete the calculation update in the coming days, and as soon as the formula is validated, we will begin contacting Account Holders directly by email to advise on next steps for gaining access to corrected Account values. That manual process will continue for Account Holders who have submitted a Request for Account Support form until Maryland 529 is in a position to move to an automated process on the Intuition platform.  Once the automated process is ready, all Account Holders will be able to view corrected account values through the Intuition site and manage their Accounts through the normal processes. 

Thank you for your continued patience.


UPDATE - November 7, 2022

On October 27, 2022, the Maryland 529 Board voted on a number of initiatives that have placed us on a path forward toward providing accurate account values.  One noteworthy change agreed-to by the Board is to retroactively change the method for calculating the minimum benefit from a “net contribution” formula to a ledger balance method. This change will ensure that all Account Holders receive the benefit of compounding of accrued benefits. 

As mentioned in prior communications, Maryland 529 has been reviewing and categorizing the Account Support Request forms that Account Holders have submitted.  That process has been completed for all forms received to-date, and we will continue that process as new forms are received.  For additional information about the priority ranking system, please see the FAQs below for “What is considered an “urgent” or “priority” request to trigger the application of the “manual” process?”  

The next step in the overall process is to work with our consultants to finish developing the interim calculation method.  This includes testing and validating the new calculation model.  As soon as the validation has been achieved, the process of manually calculating Account values will begin on an Account-by-Account basis in accordance with priority for those Account Holders who have submitted an Account Request Support form.  We anticipate the validation process will be finished by mid-November, and that the manual calculation efforts will begin soon thereafter. 

If you have submitted a completed Account Support Request form, we will contact you via email as soon as your request is in the manual calculation process and when that process is complete. Rest assured, we understand how important your requests are to you and your Beneficiaries.  Maryland 529, however, cannot sacrifice accuracy in this process for a quick fix. We, therefore, ask for your continued patience once again as we work through the end stages of this process. 

Towards that end, please click here for a current projected timeline.  Although this timeline is dependent on things going as planned while we work with our outside vendors and consultants, we hope that it will provide you and your Beneficiaries with comfort knowing that the calculation fix is near and that your specific Account requests will be addressed soon. 

Maryland 529 will continue to provide updates to our Prepaid College Trust Account Holders on this page and via email as we advance through this process.  Again, thank you for your continued patience. 


Update - August 29, 2022

Maryland 529 is currently working to address earnings calculation issues in the Maryland Prepaid College Trust (MPCT) that are impacting some Account Holders who need to take a distribution. To protect the Trust as a whole, the Maryland 529 Board has temporarily suspended the addition of certain interest earnings on MPCT distributions.

We recognize the uncertainty caused by these issues and are working diligently to address them. We appreciate your patience through this process.

It is important to emphasize that no MPCT Account funds are at risk, and that Account Holders are still able to access their principal balances for Tuition payments and/or rollovers. Once all issues have been resolved, Account Holders will have access to their interest earnings.

These issues do not affect Maryland College Investment Plan (MCIP) Accounts.


Request for Account Support

If you are a MPCT Account Holder and require support for your Account, please complete the Request for Account Support form by selecting one of the options below.

Option 1: Click here to submit your request via Google Forms.

Option 2: Click here download and print the form* and email your documents to


If you are unable to type in the form fields, please print the form and complete it manually.

If you need assistance with completing the form, please call our call center at 1-800-734-5382, between the hours of 10 am to 5 pm EST Monday through Friday (excluding U.S. holidays and certain other blackout dates), and one of our operators will be glad to assist you.


Please note that call center operators will not be able to address account holders' issues in real time **

September 29 MPCT Virtual Town Hall

MD529 Executive Director Addresses This Issue

Maryland 529 Board Meeting - September 15, 2022

Interest Calculation FAQs