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Frequently Asked Questions

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If you’re confused about saving for college, you’re not alone. Everyone has questions! That’s why we’re here to help. Get some answers.

Browse our list of frequently asked questions about 529 college savings plans, the Maryland Prepaid College Trust, the Maryland College Investment Plan, and more!

529 Basics

What is a 529 plan? How does a 529 plan work?

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Maryland ABLE

Learn more about Maryland ABLE.

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College Investment Plan

Answers to questions about the College Investment Plan.

Account Holder: Learn more
Non-Account Holder: Learn more

Prepaid College Trust

Answers to questions about how the Prepaid College Trust works.

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Non-Account Holder: Learn more

Financial Advisors

If you are a financial advisor, click here to access Common Advisor Questions and Answers.

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Disclosure Statement

Please read the entire Enrollment Kit carefully before deciding to enroll. The Maryland College Investment Plan Disclosure Statement provides investment objectives, risks, expenses and costs, Fees, and other information you should consider carefully before investing. If you or your beneficiary live outside of Maryland, you should compare Maryland 529 to any college savings program offered by your home state or your beneficiary’s home state, which may offer state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s 529 plan.

*Morningstar analysts reviewed 61 plans for its 2020 ratings (10/27/20), of which 11 plans received a “Silver” rating. To determine a plan’s rating, Morningstar’s analysts organized their research around four key pillars: Process, People, Parent, and Price. Visit this site for additional information about Morningstar's methodology. 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.

© 2021 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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