Automatic Monthly Contributions

An easy way to save.

Automatic Monthly Contributions

Did you know that the Maryland 529 plans offer an easy way to help you build your college savings? It’s called Automatic Monthly Contributions* (AMC), and it’s a no-stress way to help you meet your family’s college savings goals.

With AMC, you can:

  • Choose a monthly contribution amount that fits your budget.
  • Increase or decrease contribution amounts at any time.
  • Contribute automatically from your bank account and through payroll deductions (if offered by your employer).
  • Eliminate the need to write checks or mail contribution slips.

College Investment Plan (MCIP) Account Holders:

  • Start with as little as $25 per month.
  • Simply log in to access your Account online.
  • Select “Transactions” button.
  • Select “Automatic Monthly Contributions” to get AMC set up.

Prepaid College Trust (MPCT) Account Holders:

  • Select if you're enrolling in or changing AMC.
  • Choose to withdraw from your checking or savings account.
  • Select the amount and submit.

The Benefits of Contributing More

This chart shows the potential growth of AMC contributions over time.

AMC Info Chart

Assumes AMC made at the end of each month, 6% hypothetical rate of return compounded monthly, and a 0.05% annual program management fee. This chart is for illustrative purposes only and does not predict or project the return of any specific investment option. Investment returns in the Maryland College Investment Plan will vary and may be higher or lower than in this example. An actual investment may assess fees or other charges that should be considered prior to investing. An AMC does not assure a profit or protect against loss in declining markets.

AMC Checklist

Unique tax benefits of Maryland 529 plans. By setting up AMC, you could be on your way to deducting up to $2,500 for each Beneficiary in the MCIP plan and/or each MPCT contract from your Maryland State income for deductions in that calendar year.**

Ready to Open an Account?
Setting up your AMC couldn't be easier.
Get Started Today.

*Automatic Monthly Contributions involve a process called dollar cost averaging. Dollar cost averaging cannot assure a profit or protect against loss in a declining market. It involves continuous investing, regardless of fluctuating price levels. Investors should consider their ability to continue investing through periods of fluctuating price levels.

**If you receive a State contribution for any Account in a given year, you are not eligible in that year for the income deduction on your State taxes for contributions that you made to that or any other Maryland College Investment Plan Account. You should check with your tax professional regarding your specific situation.