Maryland 529 -- Maryland Senator Edward J. Kasemeyer Prepaid College Trust
General Information
Maryland 529 -- Maryland Senator Edward J. Kasemeyer Prepaid College Trust
The Maryland 529 -- Prepaid College Trust offers a variety of tuition packages to Maryland and District of Columbia families.
Our Ratingix
Fee Scoreix
Performanceix
- Program typePrepaid contract
- Enrollment periodDecember 1, 2018 through May 31, 2019. Year round for newborns.
- Inception1998
- State agencyMaryland 529
- Tax deduction
Ratings & Rankings
Our overall rating for MD residents
This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.
Our overall rating for non-residents
This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.
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.
Financial Benefits
4.00
Features
3.50
Safety
5.00
Reliability
5.00
Eligibility
State residency requirements:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Did you know?
MD residents can claim a tax deduction for contributions to a MD 529 plan.
Contributions are deductible in computing state taxable income
529 plan contributions grow tax-free.
Withdrawals are tax-free when used to pay for qualified higher education expenses.
You can contribute as much as you want, as often as you want.
The key is to get started. Enroll today by completing a quick form online.
Contributions
Minimum contributions:
Contractual Features
Contract prices:
Available tuition packages:
Benefits for beneficiary attending private or out-of-state institution:
Contract payment options:
Are program benefits backed by the full faith and credit of the state?
Are program benefits collateralized or guaranteed in any other way?
Fees & Expenses
Enrollment or application fee:
Taxes and other Benefits
- Tax deduction for single filers$2,500/yr
- Tax deduction for joint filers$5,000/yr
Example
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.
Program match on contributions:
State tax deduction or credit for contributions:
State tax recapture provisions:
State tax treatment of qualified distributions:
State tax treatment of rollovers:
Does the sponsoring state exclude the value of an account for state financial aid purposes?
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Does the program have a formal agreement with a rewards program or outside scholarship program?
Upromise Helps Families Save for College
Upromise Helps Families Save for College
Statutory protection of an account from creditors:
Did you know?
Residents are not limited to investing in their own state's 529 plan.
Another state may offer a plan that performs better and has lower fees.
The 529 plan chosen does not affect which state the student enrolls in.
You can live in New York, open a plan from Nevada and send a student to college in Florida.
The best way to maximize your college savings?
Start early and save often. You can get started today with easy online enrollment.
Distributions & Terminations
To whom are distributions made payable:
Account Changes
Policy regarding participant/owner changes:
Contact
Website:
Telephone:
Start saving for your child's future today
Step 1
Click the blue Enroll Now button to the right
Step 2
Complete the online application and make your first deposit