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College Savings Plans of Maryland -- College Investment Plan
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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.

Program Details
  • Summary: 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.
  • Program type: Savings
  • Program manager: T. Rowe Price Associates, Inc.
  • State residency requirements: None
  • Maximum contributions: Accepts contributions until all account balances in Maryland's 529 plans for the same beneficiary reach $350,000.
  • Minimum contributions: The minimum contribution requirements are a lump sum of $250 or, signing up for automatic monthly contributions of at least $25. The minimum for subsequent contributions is $25. .
  • 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.
  • Enrollment or application fee: None.
  • Account maintenance fee: $10 annually for accounts with less than $25,000, waived with automatic investments.
  • Program management fees: 0.13% manager fee; 0.01% for the U.S. Treasury Money Market Portfolio
  • Expenses of the underlying investments: Ranges from 0.10% to 0.68% (portfolio weighted average).
  • Total asset-based expense ratio: 0.11% - 0.81%
  • 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.
  • Web site: Click here to visit
  • Telephone: 1-888-463-4723
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The information contained in this material and related materials ("Information") is based on information from sources believed to be accurate and reliable and every reasonable effort has been made to make the Information as complete and accurate as possible but such completeness and accuracy cannot and is not guaranteed. The reader and user of the Information should use the Information as a general guide and not as the ultimate source of information. The Information is not intended to include every possible bit of information regarding the Information but rather to complement and supplement information otherwise available and the reader and user should use the Information accordingly. The Information contains information about tax and other laws and these laws may change. The reader and user should realize that any investment involves risk and the assumptions and projections used in the Information may not be how the investments turn out. The reader and user should consult with their own tax, financial and legal advisors about all of the Information.

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