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HomeBlogNew and NotableThis year's Maryland Prepaid College Trust enrollment period ends April 2

This year’s Maryland Prepaid College Trust enrollment period ends April 2

cspmd logoIf you want the best prices for your child’s future education, you need to act fast! The 2011-2012 enrollment period for the College Savings Plans of Maryland’s Prepaid College Trust closes April 2.

The Prepaid College Trust is one of two 529 college savings plans administered by the State of Maryland and gives families an opportunity to lock in tomorrow’s tuition at today’s prices. It is backed by the security of a Maryland Legislative Guarantee.

 

To enroll at current prices, enrollments need to be either postmarked by April 2 or completed online at CollegeSavingsMD.org by 11:59 p.m. on April 2. Online enrollment is encouraged since it offers a reduced enrollment fee.

Families can purchase as little as one-semester to up to five years of the University Plan. Various other options are available, including one or two years of tuition at the community college level, an affordable option which can be applied towards tuition at a 4-year university, and a combined “Two-Plus-Two” Plan that includes two years of community college tuition and two years of university tuition are also available.

Flexible payment options include a one-time “lump sum,” annual or monthly payments. Initial payments on contracts entered into during the current enrollment period are not due until August 1.

The College Savings Plans of Maryland also administers another tax-advantaged 529 plan – the Maryland College Investment Plan – managed and distributed by T. Rowe Price. This plan offers a variety of investment options, with no sales commissions, loads or enrollment fee, and enrollment is open year-round.

The College Investment Plan has been recognized as one of the top-rated college savings plans in the nation by Morningstar, Inc. for the second straight year. It was one of more than fifty 529 plans evaluated in the 2011 survey and one of just six to be awarded Morningstar’s “Top” best-in-class rating.

Visit CollegeSavingsMD.org or call 1-888.MD.GRAD(463-4723) for more information.

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