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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.
How to Use Your Plan
We’re here to help you use your savings to pay for college or other qualified education programs and expenses.
Whether your child chooses to attend a college, trade school, or an apprenticeship in Maryland or out-of-state, your account is flexible to fit their needs.
What Education Expenses are Qualified vs. Non-Qualified?
It can be confusing to understand what you can pay for with your Maryland College Investment Plan account. For distributions to be federally tax-free, you have to use the funds for qualified education expenses, which are defined in the Internal Revenue Code. For a complete list, view IRS Publication 970. Check out these examples of qualified and non-qualified education expenses.
Qualified Expenses
Non-Qualified Expenses
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1 While distributions from 529 college savings plans for elementary or secondary education tuition expenses are federally and Maryland State tax-free, state tax treatment in other states 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 professional for additional information.
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