Maryland offers both a prepaid 529 plan as well as an investment fund plan that, when used together, can diversify your college savings. In the Maryland Prepaid College Trust, you purchase semesters of tuition at today’s prices. No matter how much the cost of tuition increases, you have paid the tuition for the number of […]
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Maryland College Savings Plan is Expensive
I was asked recently whether it made financial sense to contribute more than the state income tax deduction amount of $2,500 per account holder per account to the Maryland College Savings Plan. Maryland maintains two distinct plans: The College Investment Plan, which offers stock and bond mutual funds. The investment earnings are not taxed as […]