Saving for college is a smart move.
You’ve already taken an important step toward saving for your child’s future education: deciding to start saving! Now, it’s time to make another smart decision and invest with Maryland 529.
Choose one or both 529 plans.
Maryland 529 offers two easy and smart ways to save. Plus, they are:
- Affordable.
- Flexible.
- Tax-advantaged.
Please note that the availability of tax or other benefits may be conditioned on meeting certain requirements such as residency, purpose for or timing of distributions, or other factors, as applicable.
About the Plans
Maryland Senator Edward J. Kasemeyer Prepaid College Trust
Lock in tomorrow's Tuition at today's prices.
With the Maryland Senator Edward J. Kasemeyer Prepaid College Trust, also referred to as the Maryland Prepaid College Trust or MPCT, you lock in future college Tuition at today’s prices and your account can be used at nearly any college nationwide (not eligible for K-12 tuition expenses).
But, that's not all.
- Invest for children from newborn through 12th grade, although accounts must be open for at least three years before Tuition benefits will be paid.
- It’s backed by a Maryland Legislative Guarantee.
- You’ll be eligible for federal and Maryland State tax 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.
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Maryland Senator Edward J. Kasemeyer College Investment Plan
Build the plan that’s right for you!
The Maryland Senator Edward J. Kasemeyer College Investment Plan, also referred to as the Maryland College Investment Plan or MCIP, offers a broad range of investment options managed by T. Rowe Price, an investment leader with more than 80 years of experience. You decide how much and how often you want to invest based on your budget and goals. It’s up to you!
- Begin with just $25 a month.
- Invest for children or adults of any age.
- You’ll be eligible for federal and Maryland State tax benefits, including tax deferred growth and tax free earnings when the account is used towards qualified education expenses.
- Benefits can be used at most accredited colleges, trade/technical schools, or K-12 schools in the United States (and some international colleges)
- Enroll in GoTuitionSM gifting portal, a convenient way for friends and family to turn traditional gift giving into the gift of an education.
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.
Learn more