Author: Katie Ballance
Published: Tuesday, 05 May 2020
The State of Maryland and Maryland 529 are teaming up to help make it easier for your child’s dream of attending college come true. Simply open an Account in the Maryland Senator Edward J. Kasemeyer College Investment Plan (also referred to as the Maryland College Investment Plan or MCIP)—managed by T. Rowe Price—a leading investment firm since 1937—and you could be eligible for a $250 or $500 contribution from the State of Maryland. Your savings can be used at nearly any U.S. college, technical or trade school, and even international universities that have a federal school code—for qualified eligible expenses such as tuition, fees, room and board, etc.
The Maryland College Investment Plan Disclosure Statement provides investment objectives, risks, expenses and costs, fees, and other information you should read and 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. T. Rowe Price Investment Services, Inc., Distributor/Underwriter.