Important Update to the Maryland Prepaid College Trust
Maryland 529 recently announced its partnership with Intuition College Savings Solutions, LLC (“Intuition”) as Program Manager of the Maryland Senator Edward J. Kasemeyer Prepaid College Trust (“MPCT” or “Prepaid College Trust”). For more information, click here.
Effective October 15, 2021, 4:30 PM ET: In preparation for the transition, new MPCT Accounts cannot be opened and new MPCT enrollments cannot be processed until 8:00 AM ET on November 9, 2021.
If you opened a new Account or submitted a new enrollment prior to October 15th, and all of your information is received by our office in good order by October 22nd, your request will be processed.
If a request is received and is not in good order, attempts will be made to retrieve the missing information or documentation, but we cannot guarantee that the request will be processed if it was not submitted in good order. All outstanding and/or not in good order requests will be transferred to the new Program Manager for review beginning November 9th.
If you have additional questions, please call 1.888.463.4723 ext. 2 or email us.
The features and benefits of the Maryland Prepaid College Trust will not change as a result of the tranisition. Please continue to read on to learn more about the Maryland Prepaid College Trust.
It’s that simple!
The Maryland Prepaid College Trust has a lot of other great benefits for Maryland 529 plan participants:
- Start with as little as a one semester plan.
- Your benefits can be used both in or out of State – providing flexibility.
- It’s backed by a Maryland Legislative Guarantee.
- Flexible tuition plans and payment options that can be changed at nearly any time.
- Your payments may be eligible for a Maryland State income deduction of up to $2,500 per year, per Account.
- Any earnings are tax-free when used for qualified education expenses.
Learn more about the Features & Benefits.
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.
Is the Maryland Prepaid College Trust right for you?
Who can enroll?
The Prepaid College Trust is open to newborns through 12th graders. At the time of enrollment, either you or the Beneficiary (child) must be a Maryland or DC resident.
When can I enroll in the Maryland Prepaid College Trust?
The enrollment period for the 2021-2022 Academic Year will open on December 1, 2021. If you have a newborn under the age of one-year or if you already have a Maryland 529 Account, you may enroll in the Maryland Prepaid College Trust beginning at 8:00 AM on November 9, 2021 when we transition program management to Intuition College Savings Solutions.
The Maryland Prepaid College Trust offers a range of flexible tuition plans and payment options. Choose from:
University Plan (1 semester - 4 years)
Community College Plan (1-2 years)
Two Plus Two Plan (2 years at Community College and 2 years at a four-year college)
Lump Sum, Annual, 5-Year Monthly, Extended Monthly, and Down Payment
Learn more about tuition plans and payment options.
Can’t decide which plan to choose? Remember, you don’t have to! You can save for college with both the Prepaid College Trust and the College Investment Plan, or pick the plan that’s better for your needs.
Compare the benefits of both Plans.