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College Savings Plans of Maryland -- College Investment Plan

Maryland

T. Rowe Price manages the College Savings Plans of Maryland -- College Investment Plan and utilizes its mutual funds in age-based and static portfolio options.

5-Cap Rating

Resident:
Non-Resident:

Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories. (Scale 0 to 5; 5 is highest)

Performance Costs Features Reliability Resident Upgrade
4.17 3.43 3.40 4.60 0.30

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General

Program type:

Savings

How to enroll:

Enroll directly with the program. Enroll Now

Initial year of operation:

2001

State agency(ies):

College Savings Plans of Maryland

Program manager:

T. Rowe Price Associates, Inc.

Program distributor:

T. Rowe Price Associates, Inc.

Manager contract term:

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Eligibility

State residency requirements:

None

Who can be a participant/owner in the program?

U.S. citizens and resident aliens, UGMA/UTMA custodians, and legal entities organized in the U.S..

Significant time or age restrictions imposed by the program:

None

Contributions

Maximum contributions:

Accepts contributions until all account balances in Maryland's 529 plans for the same beneficiary reach $350,000.

Minimum contributions:

With lump-sum contributions, the minimum initial contribution is $250, and the minimum subsequent contribution is $25. With the automatic investment plan, the minimum contribution level is $25 per month.

Investment Options

Age-based investment options:

The Enrollment-Based Portfolios contain 8 portfolios of underlying mutual funds, ranging from 100% equity to 20% equity. Contributions are placed into the portfolio corresponding to the number of years to expected enrollment based on the age of the beneficiary or as selected by the account owner. 7 portfolios shift to a more conservative investment allocation over time, eventually transferring to the Portfolio for College.

Static investment options:

Select among 2 multi-fund portfolios (Equity Portfolio and Balanced Portfolio) and 4 individual-fund portfolios (U.S. Treasury Money Market Portfolio, Inflation Focused Bond Portfolio, Bond and Income Portfolio, and Global Equity Market Index Portfolio).

Underlying investments:

T. Rowe Price mutual funds.

Underlying fund allocations:

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Investment performance link:

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Portfolio Fees & Performance Lookup

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Fees & Expenses

Enrollment or application fee:

None.

Account maintenance fee:

$10 annually for accounts with less than $25,000, waived with automatic investments.

Program management fees:

0.20% manager fee; 0.01% for the U.S. Treasury Money Market Portfolio

Expenses of the underlying investments:

Ranges from 0.06% to 0.68% (portfolio weighted average).

Total asset-based expense ratio:

0.07% - 0.88%

Taxes and other Benefits

Program match on contributions:

None.

State tax deduction or credit for contributions:

Contributions to the Maryland College Investment Plan of up to $2,500 per beneficiary per year by an individual, and up to $5,000 per beneficiary per year by married taxpayers who each make contributions to their own accounts, are deductible in computing Maryland taxable income, with a 10-year carryforward of excess contributions. Only contributions made by the account owner are deductible. Rollover contributions are deductible if not previously deducted. Contribution deadline is December 31 postmark.

Value of in-state tax benefits:

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State tax recapture provisions:

The principal portion of nonqualified withdrawals from this plan are included in Maryland taxable income to the extent of prior Maryland tax deductions. Rollovers are not subject to recapture.

State tax treatment of qualified distributions:

Qualified distributions from Maryland and non-Maryland 529 plans are exempt.

State tax treatment of rollovers:

Maryland follows federal tax-free treatment.

Does the sponsoring state exclude the value of an account for state financial aid purposes?

No

Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?

No

Does the program have a formal agreement with a rewards program or outside scholarship program?

No

Statutory protection of an account from creditors:

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Distributions & Terminations

To whom are distributions made payable:

Beneficiary, beneficiary and eligible educational institution jointly, estate of beneficiary, or account owner, as directed by the account owner.

Account Changes

Policy regarding participant/owner changes:

Accepts requests to transfer account ownership.

Documents, Access & Reporting

Does participant have online password-protected access to account?

Yes

Can the complete enrollment process including funding be done online?

No, enrollment but not initial funding may be completed online

Documents and other services accessible or downloadable on the program's public Web site:

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Contact

Web site:

visit Enroll Now

Telephone:

1-888-463-4723

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