Often parents of high school students and children already in college ask whether it is still worth it to put money in a 529 college savings plan. It is, and here's why.
When it comes to college, it is always better to save than borrow. But what happens if the child decides not to go?
Please read the entire Enrollment Kit carefully before deciding to enroll. The Maryland College Investment Plan Disclosure Statement provides investment objectives, risks, expenses and costs, Fees, and other information you should consider carefully before investing. If you or your beneficiary live outside of Maryland, you should compare Maryland 529 to any college savings program offered by your home state or your beneficiary’s home state, which may offer state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s 529 plan.
*Morningstar analysts reviewed 62 plans for its 2019 ratings (10/22/19), of which 13 plans received a “Silver” rating. To determine a plan’s rating, Morningstar’s analysts considered 5 factors: the plan’s strategy and investment process; the plan’s risk-adjusted performance; an assessment of the individuals managing the plan’s investment options; the stewardship practices of the plan’s administration and parent firm; and whether the plan’s investment options are a good value proposition compared with its peers. Plans were then assigned forward-looking ratings of “Gold,” “Silver,” “Bronze,” “Neutral,” and “Negative.” Each year, certain of the industry’s smallest plans are not rated.
Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar analysts’ current expectations about future events and, therefore, involve unknown risks and uncertainties that may cause Morningstar’s expectations not to occur or to differ significantly from what was expected. Morningstar does not represent its Analyst Ratings to be guarantees.