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Recurring Contributions

Your College Investment Plan account offers an easy way to help build your savings for your child's future education, whether it be for college, trade school, or an apprenticeship.

By setting up recurring contributions, you have one less thing to worry about each month, and this savings method can help you make consistent progress toward your long-term goals. As an added "bonus," you could be on your way to hitting the annual $2,500 per beneficiary Maryland State income subtraction for this calendar year.

  • Choose a contribution amount that fits your budget. Start with as little as $25 per month.

  • Increase or decrease contribution amounts at any time.

  • Contribute automatically from your bank account or through payroll deductions (if offered by your employer).

  • Set up an annual automatic increase to your recurring contributions to boost your savings.

  • Eliminate the need to write checks or mail contribution slips.

  • Over the long term, consistently investing a constant dollar amount through all different market conditions—an investment strategy commonly called "dollar cost averaging"—may help lower your overall average cost of investing.1

Log In to Your Account

You must have a Maryland College Investment Plan account to automate your savings with recurring contributions.

Choose Beneficiary Account

Select the account that you would like to apply the recurring contribution.

Select “Manage Recurring Contributions” From Your Beneficiary’s Dashboard

Choose the amount and frequency of your contributions.

Log In to Your Account

T. ROWE PRICE INSIGHTS

Make every dollar count: The power of recurring contributions to your 529 accounts

For many families, saving for college or other higher education can feel like a race against time and inflation, but automating recurring contributions to spread your contributions evenly throughout the year makes it more manageable. These regular contributions allow you to take advantage of an investing strategy called dollar cost averaging. By using this approach, you don’t have to worry about budgeting for a large lump sum contribution at the start or end of the year, and your savings remain invested through every market cycle.

Learn from a T. Rowe Price thought leadership director how dollar cost averaging works, and how leveraging recurring contributions can simplify saving for your child's future education, build sustainable habits, and keep you on track.

Learn More

Saving Now Can Make a Big Difference Later

This chart shows the potential growth of recurring contributions made into your College Investment Plan account over time.

Assumes recurring contributions made at the end of each month, a 6% hypothetical rate of return compounded monthly, and a 0.05% annual program management fee. This chart is for illustrative purposes only and does not predict or project the return of any specific investment option. Investment returns in the Maryland College Investment Plan will vary and may be higher or lower than in this example. An actual investment may assess fees or other charges that should be considered prior to investing. A recurring contribution does not assure a profit or protect against loss in a declining markets.

Not sure how much to save?

Use our College Financing Planner to estimate your future college expenses and create a plan to meet your savings goals.


1 Recurring contributions involve a process called dollar cost averaging. Dollar cost averaging cannot assure a profit or protect against loss in a declining market. Since this 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.