Md. Prepaid College Trust enrollment period ends Monday

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This is the last week for Maryland residents to enroll in the Maryland Prepaid College Trust at the current prices as enrollment officially closes to new enrollees on Monday.

The Maryland Prepaid College Trust is one of two 529 college savings plans administered by Maryland 529, an independent State agency that gives families an opportunity to lock in tomorrow’s tuition at today’s prices.  Benefit payments from the Prepaid College Trust can be used at both in-state and out-of-state colleges and contributors with Maryland taxable income may take up to a $2,500 State income deduction per account, annually.  There are affordable options and families do not have to commit to a 4-year plan.  You can purchase as little as one-semester of a university plan, but there are a variety of options including a community college plan and up to 4 years of university.  Plus, there are a variety of payment plan options to match your budget.  The Prepaid College Trust is also backed by a Maryland Legislative Guarantee which adds an additional level of assurance for account holders.

To enroll in the Prepaid College Trust at current prices, enrollments must be postmarked by Monday or completed online at https://www.maryland529.com by Monday at 11:59 p.m. Online enrollment is encouraged since it offers a reduced enrollment fee.  Initial payments are not due until Aug. 1.

Maryland 529 also administers another tax-advantaged 529 plan – the Maryland College Investment Plan, managed and distributed by T. Rowe Price.  This plan offers a variety of investment options, with no sales commissions, loads or enrollment fee, and enrollment is open year-round.  Like the Prepaid College Trust, the College Investment Plan offers attractive federal and Maryland State tax benefits and can be used at nearly any accredited college in the country.