Common Advisor Questions-College Savings Plans of Maryland

As an advisor, your questions are more specific than those that individuals might ask about Maryland 529. We’ve created this FAQ section just for you.

If you have a question that is not covered, please contact us.

Questions about both Plans



Does Maryland 529 pay a commission to advisors or brokers who recommend the Maryland Prepaid College Trust or the Maryland College Investment Plan to their clients? Are there federal gift and/or estate tax benefits when contributing to either or both the Maryland Prepaid College Trust or Maryland College Investment Plan? Are there Maryland tax benefits when contributing to either or both the Maryland Prepaid College Trust or the Maryland College Investment Plan? How can funds be rolled over from another state’s 529 plan into the Maryland College Investment Plan and/or the Maryland Prepaid College Trust? Are funds that are rolled over from another state’s 529 plan eligible for the Maryland Income Deduction? What are considered “Qualified Higher Education Expenses”? How can I host an informational session on Maryland's 529 Plan?

Questions Specific to the Maryland College Investment Plan



As an advisor, can I receive copies of my client’s quarterly Maryland College Investment Plan Account statements? Am I able to access my client’s accounts via the internet? Where can I obtain more detailed information about the investment options in the Maryland College Investment Plan? Has the Maryland College Investment Plan been rated by Morningstar?

Questions Specific to the Maryland Prepaid College Trust



Is Maryland Prepaid College Trust a 529 plan? How is the Maryland Prepaid College Trust different from the Maryland College Investment Plan? What does the Maryland Prepaid College Trust pay if the Beneficiary attends a Maryland public college? Can the Maryland Prepaid College Trust be used if the Beneficiary attends an out-of-state or private college? What is the Weighted Average Tuition? What is the Minimum Benefit? Who manages the funds that are paid into the Maryland Prepaid College Trust? What is the Legislative Guarantee? What is the funded status of the Maryland Prepaid College Trust?

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Common Advisor Questions