Learn why the Maryland College Investment Plan is a smart way to save.
Saving for college is easier than you think. With the Maryland College Investment Plan, you can save for college on your terms—starting with as little as $25.
Flexible in more ways than one.
- With the Maryland College Investment Plan, decide how much you want to contribute.
- You can use the funds to pay for a variety of qualified education expenses like tuition, room and board, books, course-specific fees, supplies, and eligible trade and technical school expenses.
- Select your own investment options from enrollment-based based and fixed portfolio options, all managed by T. Rowe Price. Learn more about our Investment Options.
- Contribute automatically from your bank account or through payroll deductions, or make one time contributions by check or online. See our FAQS for more details.
Save for College with a “Silver” rated Plan.
The Maryland College Investment Plan was one of only 11 plans to receive a “Silver” rating by Morningstar, Inc. in 2020.*
Even better, as a tax-advantaged savings plan, any earnings on your investment in the Maryland College Investment Plan are tax-deferred and are tax-free when used for qualified education expenses.
Earnings on a distribution not used for qualified expenses may be subject to income taxes and a 10% federal penalty. State tax laws and treatment may vary. Please check with your state or a tax advisor regarding the specific tax rules for your state.
You don't have to go it alone.
They say it takes a village to raise a child. Well, the same can be said about sending your child to college. When you open a Maryland College Investment Plan account you have the added benefit of enrolling in the GoTuition® gifting portal. It’s a convenient way for friends and family to give online. Open an account today and make saving enough for college a real possibility.