Get Maryland College Investment Plan 2013-2025

You can use the funds in a 529 college savings plan to pay for qualified educational expenses such as tuition, fees, room and board, books, course-specific fees or supplies. Prepaid tuition plans typically only cover tuition and have varying structures from state to state.

You can call your plan administrator, make a request online, or submit a withdrawal request form. The plan can send withdrawals by check to the account owner, the beneficiary, or the school. You can transfer the money to yourself or the beneficiary electronically and then make payment to the school.

Maryland College Investment Plan You can use the College Investment Plan at nearly any public, private, or technical college nationwide for Qualified Education Expenses such as tuition, fees, room and board, books, course-specific fees or supplies.

Tuition at an elementary or secondary public, private or religious school, up to $10,000 per year, per Beneficiary. * Learn more. The Beneficiary's student loan payments up to a $10,000 lifetime maximum. Books, fees, equipment, and other supplies for registered apprenticeship programs.

If you are the Account Holder or a contributor, you can deduct up to $2,500 per Account from your Maryland State income for payments in that calendar year. Payments in excess of $2,500 per Account can be deducted in future years until the full amount of payments has been deducted.

Maryland residents looking to invest in their children's education should consider the Maryland 529 plan. Offering excellent investment choices managed by T Rowe Price, and great tax benefits, the Maryland College Investment Plan can help you save for college or other qualified higher-education expenses.

Maryland offers residents an excellent 529 plan, the Senator Edward J Kasemeyer College Investment Plan, managed by T Rowe Price. This college savings program offers excellent investment choices, portfolios, and Maryland state tax benefits.

Contributions. Maryland offers a state tax deduction for contributions to a 529 plan of up to $2,500 for single filers and $5,000 for married filing jointly tax filers. You can also carry-forward excess contributions for 10 years, which allows for super-funding.