College & Career


College Savings Plans of Maryland -- Prepaid College Trust
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The College Savings Plans of Maryland -- Prepaid College Trust offers a variety of tuition packages to Maryl and District of Columbia families.

Program Details
  • Summary: The College Savings Plans of Maryland -- Prepaid College Trust offers a variety of tuition packages to Maryl and District of Columbia families.
  • Program type: Prepaid contract
  • Enrollment period: December 1, 2015 through April 20, 2016. Year round for newborns.
  • State residency requirements: The account holder or beneficiary must be a Maryland or District of Columbia resident at the time of program enrollment.
  • Contract prices: Prices for contracts purchased during the 2015-16 enrollment period range from as little as $4,585 for a one-year community college contract for a newborn to as much as $46,369 for a four-year university contract for a child in the ninth through twelfth grades.
  • Are program benefits backed by the full faith and credit of the state? No
  • Are program benefits collateralized or guaranteed in any other way? Yes, the legislature is required to consider, but not necessarily approve, an appropriation to cover any shortfall, repayable within two years.
  • State tax deduction or credit for contributions: Contributions to the Maryland Prepaid College Trust of up to $2,500 per account per year are deductible in computing Maryland taxable income, with an unlimited 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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