Thank you for your interest. The 2020 application period is now closed. The 2021 application period will open on January 1, 2021.
How do I apply?
Simply log in to your Maryland College Investment Plan Account and select Apply Now to get started. You can also download and print an application.
If you need to open a Maryland 529 College Investment Plan Account to apply, click here.
Note: Be sure to complete the Program’s eligibility requirements. In accordance with the Maryland Code, the Maryland 529 Board is required to verify the income level you provided. Please see additional details below.
How does it work?
Saving for college is a challenge for many families. The State of Maryland and Maryland 529 want to help make it easier for your child's dream of attending college to come true. The Save4College State Contribution Program is designed to help lower to middle-income families in Maryland save money for higher education. Your savings can be used at nearly any public, private, or technical college nationwide—and even international universities that have a federal school code—for qualified eligible expenses such as tuition, fees, room and board, etc.
To apply, you must meet the following requirements:
- The Beneficiary must still be a Maryland resident and the Account Holder's Maryland taxable income cannot exceed the maximum household income range ($112,500 as an individual or $175,000 as a married couple filing jointly based on the previous taxable year).
- Applicants must open a new Maryland College Investment Plan Account; however, current Account Holders are eligible to apply if they opened the MCIP Account after December 31, 2016. All applicants must submit their application for the Save4College State Contribution Program by 11:59pm on May 31.
- You must make the minimum contribution to the applied-for Account(s)^ no later than November 1.
As with the entire State budget, the Maryland General Assembly has final approval over funding for the State Contribution Program. State contributions are not guaranteed. The State funding for contributions is limited each fiscal year. If resources are insufficient to fully fund all eligible Accounts, Maryland 529 shall provide contributions in the order in which applications are received in good order and give priority to applications of Account Holders who did not receive a State contribution in any prior year. 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 College Investment Plan Account. You should check with your tax advisor regarding your specific situation.
^If you request a Beneficiary change, Portfolio Change or Distribution after submitting your application, or otherwise wish to change the applied-for Account, please contact us at the number above for instructions.
What is the Save4College State Contribution Program?
The State of Maryland and Maryland 529 want to help make it easier for your child's education dreams to come true.
Saving Now Could Help You Pay Less Later
Start saving now, and help reduce costly debt later.