“School parents are more than eight times as likely to be strongly supportive” of educational savings accounts. That’s the finding of the latest EdChoice national poll conducted in November 2023.
Advantages of a Maryland 529 Plan
Maryland CAPE has long advocated for these accounts, especially for K-12 students. Here in Maryland, a 529 plan can be opened with as little as $25 to support a child’s education.
The plans also offer great benefits for nonpublic school students:
- Maryland 529 plans can be used for up to $10,000 toward nonpublic K-12 school tuition and for college
- Maryland offers a match of up to $500 per year; 529 account holders must apply for a match by May 31 each year
- Maryland 529 account holders may be eligible for up to $2,500 in Maryland state tax savings per beneficiary
Sign Up for a Maryland 529 Plan
- Learn about Maryland 529 plans for K-12
- Apply for a State of Maryland $500 match (application for a 2024 match opens Jan. 1, 2024)