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Early Savers

Start Strong for Their Future

Congratulations on taking that first step on your family’s college savings journey with the Maryland College Investment Plan. Right now, your world might revolve around baths, diaper changes, and naptime. While college or another educational path may feel very far away, determining your strategy, saving early, and taking advantage of your Plan’s tools and benefits can help set your child up for success in the future.

Learn

College savings strategies look different for everyone. Explore our resources to learn how to make the most of your Plan's benefits and to build a strategy that works best for you.


While your budget, goals, and priorities may change as your child grows up, it's important to:

  • Create a strategy that works for your family.
  • Set concrete goals to strive toward every year.
  • Track and celebrate your progress.
T. ROWE PRICE INSIGHTS

Developing a College Savings Strategy That Will Work Best for You

Deciding how much to save for your child's education and when to start saving are important steps in developing a college savings plan.

Expert insights from a T. Rowe Price thought leadership director can help you build your strategy.

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Unique Tax Advantage

As an account owner and Maryland taxpayer, you can subtract up to $2,500 per beneficiary from your Maryland State income for contributions in that calendar year.

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Account Owner Monthly E-Newsletter

Keep an eye out for your monthly E-Newsletter. It provides you with timely information on a variety of topics to help you during your education savings journey including:

  • Information about plan features and benefits
  • Expert insights on education savings strategies from T. Rowe Price thought leadership directors
  • Updates to the Save4College State Contribution Program
  • Relevant regulatory changes

Plan

One important part of building your saving strategy is creating a plan that fits your budget. Use these tools to determine your monthly savings goals and maximize your tax benefits, paving the way for a bright future.


T. ROWE PRICE INSIGHTS

Closing the College Affordability Gap: Maximizing the Benefits of 529 Plans

While juggling so many competing priorities, saving for higher education can be a big financial challenge for many families. Inflation has taken a toll on many household budgets, and finding money to set aside to save for future education has understandably become increasingly challenging. Parents are looking for ways to bridge the college affordability gap without relying too heavily on loans, which can leave graduates with substantial debt upon graduation.

Learn from T. Rowe Price thought leadership directors how 529 plans can be a powerful tool that parents can utilize to bridge the gap and help secure their children’s educational future.

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College Financing Planner

Your starting point to help you determine what you may need to save each month.

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Save

With time on your side, now is the ideal moment to start your savings journey. Begin by automating your savings, inviting your loved ones to contribute through gifting, and learning how to take full advantage of your Plan's many benefits.


Automate Your Savings

You have the advantage of making saving a habit early to be better prepared for your child's future education.

You choose how much you want to invest and how often, and you can start with as little as $25 per month, potentially reducing your overall average cost of investing.1

Get Started
BENEFIT FROM A BOOST

As an account owner, you could be eligible for a $250 or $500 State contribution through the Save4College State Contribution Program. The application period is open from January 1 to May 31.2

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READYSAVE 529 Mobile App

As an account owner, you can manage your account anytime, anywhere, with the free READYSAVE 529 mobile app.

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Helps account owners regularly monitor their account.

Easily contribute with one-time or recurring contributions.

Invite friends and family to help give them a savings boost with Ugift®.3

Manage your account anywhere, anytime.

Gifting

Now’s the time to start asking family and friends to help you on your savings journey by contributing to your child’s account in lieu of gifts for celebrations—such as pre-K graduation, holidays, and birthdays—with Ugift.

1 Investing a constant dollar amount, also known as dollar cost averaging, cannot assure a profit or protect against loss in a declining market. Since such a plan involves continuous investment in securities regardless of fluctuating price levels, investors should consider their financial ability to continue purchases through periods of low and high price levels.

2 If you received a Save4College State contribution in a given tax year, you are not eligible to receive Maryland State income subtraction modifications for contributions to any Maryland Senator Edward J. Kasemeyer College Investment Plan account made in that same year. Additionally, your application will NOT be automatically updated when you request a beneficiary change or distribution after submitting an application. If you request a beneficiary change or distribution and wish to change the account that will receive the State contribution, please contact us at 1-888-4MD-GRAD (463-4723), Option 1.

3 Ugift® is a registered service mark of Ascensus Broker Dealer Services, LLC.

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