Our Plans for Financial Advisors

Our Plans for Financial Advisors

Maryland 529 and Your Clients

If your clients are weighing the options for their children’s college savings, Maryland 529 is a good place to start. Maryland’s 529 college savings plans offer flexible options that let them save in accordance with their individual budgets and investment styles, unique Maryland tax benefits, and like any 529 plan, potential tax-deferred growth on any earnings.

Maryland 529 offers two great ways to save. And depending on your clients’ goals, they can choose to use one or both plans.

Benefits of Maryland 529

Whether your clients choose the Maryland Prepaid College Trust or the Maryland College Investment Plan, they will enjoy many of the same benefits.
  • Affordability – Save for as little as $25 per month with automatic monthly contributions in the College Investment Plan or one semester in the Prepaid College Trust.
  • Flexibility – Use savings at eligible colleges, trade and technical schools nationwide.
  • Tax Benefits – Offer the potential for tax-deferred growth, tax-free earnings and unique Maryland tax benefits.
  • Favorable Financial Aid treatment.

Helpful Tools and Resources

  • Maryland State income deduction infographic: Understand how your clients could maximize their Maryland State income deduction.
  • Tax Maximizer

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 advisor regarding the specific tax rules for your state.

Help your clients save for college!

Get all the details and download the enrollment kit now.

Download