New Parents

The New Parent’s Guide to 529 Plans

The New Parent’s Guide to 529 Plans

As you cherish this time together with your growing family, Maryland 529 is here to help.

What’s best for them? Like many new parents, it’s a question you keep asking yourself again and again. And while it may be difficult to think about saving for future higher education expenses when college is 18 years away – or longer – saving now can help make a big difference later. Maryland 529 offers flexible and affordable plans that give your child the freedom to pursue their dreams.

Learn more about how Maryland 529 plans work

What is a 529 plan?

Maximizing your State income tax deduction

Advantages of saving for college rather than borrowing

About the plans

Prepaid College Trust

Maryland Senator Edward J. KasemeyerPrepaid College Trust

Secure tomorrow’s tuition at today’s prices and use your plan at any federally accredited university or college nationwide.

The Prepaid College Trust offers:

  • Flexibility—Purchase one semester up to four years of college. Choose from different tuition plan and payment options that can be changed at nearly any time.
  • Peace of Mind—Your Account is backed by a Maryland Legislative Guarantee.
  • Unique Tax Benefits—You may be eligible for federal and Maryland State tax benefits.
  • Enrollment Age Options—Open to 12th graders or younger, including newborns.

Learn more

Prepaid College Trust

Maryland Senator Edward J. KasemeyerCollege Investment Plan

Save for education your way with the freedom to choose how much and how often you want to invest based on your budget and goals.

The College Investment Plan offers:

  • Affordability—Begin with just $25.
  • Freedom to Choose—From a broad range of investment options managed by T. Rowe Price, an investment leader with more than 80 years experience.
  • Flexibility—Use your plan at nearly any public or private college, trade/technical schools, certified apprenticeship programs or K-12 schools nationwide.
  • Unique Tax Benefits—You may be eligible for federal and Maryland State tax benefits.
  • Availability—Open an Account anytime for anyone.
  • Gifting—Enroll in GoTuition®​ gifting portal a convenient way for friends and family to turn traditional gift giving into the gift of an education.

Learn more

New Parents FAQs

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