Save for K-12 Education with a Maryland 529 Plan
The College Investment Plan is more flexible than ever. You can now use the money saved in your Account for tuition expenses of up to $10,000 each year at private, public, and religious K-12 schools—giving you more options for your child’s future. Using your MCIP Account to pay for K-12 tuition may be something to consider, especially if you have enough saved to fund both K-12 and college education for your child. Keep in mind, that you can accumulate a maximum Account balance of up to $500,000 per Beneficiary. Since federal expansion of the meaning of Qualified Education Expenses effective January 2018, Account Holders have been permitted to take federally-qualified distributions from their 529 accounts for up to $10,000 per Beneficiary, per year for tuition at an elementary or secondary public, private, or religious school.*