The 2024 application period is now open until 11:59 p.m. on May 31.

Note: Be sure you have completed the Program’s eligibility requirements. In accordance with the Maryland Code, the Office of the Comptroller of Maryland, is required to verify the income level you provided. For additional details, please see “How do I apply?

FAQs Maryland College Investment Plan

It’s easy to apply with the online application. Simply log into your Maryland College Investment Plan Account to get started. You can also download and print an application.

Step 1.Open a new MCIP Account or Select an Account you opened after December 31, 2016.

Step 2.Complete the State Contribution Program application online or a paper application can be downloaded, printed, completed and mailed in. All applicants are required to complete step 2A (detailed below) fully. Some applicants may be required to complete step 2B (detailed below). Please read carefully to determine what is needed based on your situation. The application must be fully completed by May 31 of the year you wish to be eligible for the State contribution.

A. The Application and Tax Information Authorization

Must be completed online by 11:59pm on May 31. More than one Account can be applied for through the online application. Paper applications are required to be postmarked by May 31 of the year in which you are applying, and one application must be completed per Account that is applied for. Both types (online and paper) include a step for the tax information authorization, which permits the Office of the Comptroller of Maryland to verify your Maryland taxable income. Regardless of tax filing extensions that may be available in Maryland, State Contribution Program applicants must file their Maryland State tax return no later than July 15th in order to be eligible for a State contribution.

B. The Affidavit

If you did not file (and are not required to file) a Maryland income tax return for the previous calendar year, you must also complete the Affidavit of Account Holder for State contribution eligibility. The affidavit must be signed in the presence of a notary public and returned by mail, postmarked by May 31. The end of the online application includes a link to download and print the affidavit; the paper application includes the affidavit as the last page.

If you did file a Maryland income tax return for the previous calendar year, this additional form is not needed.

Mailing Addresses:

Regular Mail:
Maryland College Investment Plan
PO Box 17479
Baltimore, MD 21297-1479
Express Mail Only:
Maryland College Investment Plan
Mail Code 17479
4515 Painters Mill Road
Owings Mills, MD 21117-4903

Step 3.Contribute the appropriate amount to the applied-for Account(s)^, based on the Comptroller-verified previous taxable year's income, between January 1 and 11:59pm on November 1.

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Your Save4College State Contribution Program application will NOT be automatically updated when you request a Beneficiary Change, Portfolio Change, or Distribution after submitting an application. If you request one of those transactions and wish to change the Account that will receive the State contribution, please contact us at 888.4MD.GRAD (463.4723), Option 1.

To apply for the Save4College State Contribution Program:

The Account Holder and Beneficiary must be Maryland residents and the Account Holder's Maryland adjusted gross 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 MCIP Account; however, current Account Holders are eligible to apply if they opened the MCIP Account after December 31, 2016. As an applicant, you must submit your application for the Save4College State Contribution Program by 11:59 p.m. on May 31.

Account Holder must be 18 years old, and the Beneficiary must be under the age of 26 years in the calendar year before the Account Holder submits an application.

Note: Account Holders who have received $9,000 or more in State contributions are not eligible for additional State contributions.

Current Maryland College Investment Plan Account Holders are eligible to apply for the State contribution if they opened the Maryland College Investment Plan Account after December 31, 2016. If you have a closed/zero balance Account (for more than 24 months) and open a new Account for the same Beneficiary, you may apply for the State Contribution Program for that Account.

If you are not eligible to apply for the Save4College State Contribution Program, you may still be eligible for an income subtraction of up to $2,500 in Maryland College Investment Plan Account contributions per year, per Beneficiary from your Maryland taxable income on their State taxes. You should check with your tax professional regarding your specific situation. If you receive a State contribution for any Account in a given year, you are NOT eligible to receive the income subtraction on your State taxes for contributions that you made to that or any other Maryland College Investment Plan Account for that year.

Applicants who meet the initial eligibility requirements to receive the 2024 State contribution will receive written notification, once the application window has closed and the Office of the Comptroller of Maryland has completed the income verification.

If throughout the Program year, you are determined to be ineligible due to one of the following reasons, you will receive written notification:

If the Office of the Comptroller of Maryland determines that your income exceeds the eligible range(s) for the Program.

If you do not meet the required minimum contribution on one or more of your applied for Accounts.

If it is determined your application exceeded the maximum of two State contributions per Beneficiary (per year), based on a first come first serve basis.

If you have received the State Contribution Program lifetime maximum benefit of $9,000 per Account Holder.

If you are required to file a Maryland tax return and the Office of the Comptroller of Maryland did not receive your filing by the State Contribution Program's July 15th deadline.

To be eligible to receive the State contribution, you must make the minimum contribution of $25, $100, or $250, based on your Maryland taxable income (as verified by the Office of the Comptroller of Maryland), by 11:59pm on November 1.

Click here to view chart. Your Maryland taxable income will be verified by the Office of the Comptroller of Maryland. You must make the minimum contribution into the Account(s) in which you applied for the State contribution^.

Exchanges and Beneficiary changes are not considered contributions when determining eligibility. Whether you receive the State contribution or not, you may make additional contributions into your Account at any time.

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Your Save4College State Contribution Program application is tied to the specific Account number for which you applied; therefore your application will NOT be automatically updated when you request a Beneficiary Change, Portfolio Change, or Distribution after submitting an application. It is important to note that Portfolio Changes and Beneficiary Changes produce a new Account number. If you request a Beneficiary Change, Portfolio Change or Distribution and wish to change the Account that will receive the State contribution, please contact us at 888.4MD.GRAD (463.4723), Option 1.

If an applicant is determined to be eligible and makes the required contribution by 11:59 p.m. on November 1, and if the State provides program funding, State contributions will be received by December 31 of the calendar year in which the Account Holder made the contribution.

State contributions are not guaranteed. The State funding for contributions is limited each fiscal year. As with the entire State budget, the Maryland General Assembly has final approval. 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 more than two Account Holders have applied for the same Beneficiary, and meet the eligibility criteria to receive a State contribution, priority will be determined on a first-come, first-served basis.

If you receive a State contribution for any Account in a given year, you are not eligible in that year for the income subtraction on your State taxes for contributions that you made to that or any other College Investment Plan Account. You should check with your tax professional regarding your specific situation.

Yes. You may reapply for the State contribution whether you received a contribution or not.

Account Holder must:

Be a Maryland resident

Be at least 18 years old

Have Maryland adjusted gross income that does not exceed $112,500 as an individual or $175,000 as a married couple filing jointly (based on the previous taxable year).

If filing taxes in Maryland, file taxes by July 15

 

The July 15 deadline is regardless of other tax-deadline extensions that may be available in Maryland

 

This does not revise the normal State deadline of April 15

Have not received $9,000 in prior State contributions

Make the minimum contribution to the applied-for Account(s) no later than November 1

Beneficiary must:

Be a Maryland resident

Be under the age of 26 years in the calendar year before the Account Holder submits an application

 

Example: For the 2024 application year, the Beneficiary is eligible if they are 25 years old or younger on December 31, 2023

General requirements:

The MCIP Account for which you apply must have been opened after December 31, 2016

Only 1 application per Account Holder/Beneficiary relationship can be submitted

A Beneficiary may only receive 2 State contributions in any year

All applications must be submitted by 11:59 p.m. on May 31

Reminder: During the Maryland legislative session, the General Assembly may make changes to the State Contribution Program requirements that could be applicable to the current application period. Updates on legislation will be posted on this page as they become known.

Call 888.4MD.GRAD (463.4723) and select Option 1, or email info@marylandcollegeinvestmentplan.org.