Decide exactly how you want to save with the Maryland College Investment Plan. Choose how much and how often to invest based on what’s best for your budget and goals. It’s up to you!
- Flexible contribution amounts starting with as little as $25.
- Use your plan to pay for qualified education expenses such as tuition, room and board, and books.
- You may be eligible to deduct up to $2,500 per year, per Beneficiary, from your Maryland taxable income.
- Open to adults or children of any age, even before they are born.
- Choose from a variety of investment options.
- No loads, sales charges, commissions, enrollment fees, or annual Account fees.
- Any earnings are federally tax-free when used for qualified education expenses.
- Find out if you are eligible to receive a $250 or $500 contribution through the State Contribution Program.
- Ask for gifts with the GoTuition® gifting portal, a convenient way for friends and family to give online.
- Use up to $10,000 per year, per Beneficiary of your savings toward tuition at an elementary or secondary public, private or religious school*.
- Use for student loan payments up to a $10,000 lifetime maximum.
Learn more about Features & Benefits.
Is the Maryland College Investment Plan right for you?
How does the Plan work?
You have the freedom to choose from a variety of Investment Options managed by T. Rowe Price, ranging from more aggressive to more conservative investment strategies.
Flexible contribution amounts starting with just $25. Contribute what you can, when you can according to your budget and education savings goals.
Any earnings are federally and Maryland tax-free when used toward Qualified Education expenses.
You may be eligible to deduct up to $2,500 per year, per Beneficiary, from your Maryland taxable income.
What can I use the College Investment Plan for?
Savings can be used at virtually any U.S. college, technical or trade school—and even international universities that have a federal school code—for eligible expenses such as tuition, fees, room and board, books, course specific fees and supplies.
Savings can also be used for:
- Tuition at an elementary or secondary public, private or religious school. Learn more*
- The Beneficiary’s student loan payments up to a $10,000 lifetime maximum and registered apprenticeships. Find an apprenticeship.
What are the Investment Options?
Who can enroll?
Children and adults of all ages are eligible for this flexible plan.
When can I enroll?
Enrollment is open year-round.
How much do I have to contribute?
You can open a College Investment Plan Account with as little as $25.
What are the fees?
There are no commissions, loads, sales charges, enrollment fees, or an annual Account fee. Fees such as State Fees and underlying fund expenses may be assessed or incurred.
Additional detail on fees can be found in the Plan Disclosure Statement.
How much will I need to save?
Starting early, and saving monthly may make a big difference over time, and can mean having to save less over the long term to reach your same savings goal.
Use the College Cost Calculator to understand the future cost of college and estimate how much you may need to save to reach your college investment goals.
*While distributions from 529 college savings plans for elementary or secondary education tuition expenses are federally tax-free, state tax treatment will vary and could include state income taxes assessed, the recapture of previously deducted amounts from state taxes, and/or state-level penalties. You should consult with a tax or legal advisor for additional information.