Maryland 529 Plan can now be used for K-12 tuition!
The College Investment Plan is more flexible than ever. A new provision in the federal Tax Cuts and Jobs Act expanded the usage of Section 529 College Savings Plans allowing account funds to be used for K-12 private school tuition. You can now use the money saved in your Account for tuition expenses of up to $10,000 each year at private, public, and religious K-12 schools—giving you more options for your child’s future. The Catholic school community is excited about this new allowance and the tax benefits for parents now associated with tuition payments through 529 Accounts.
There is no income limitation associated with opening a 529 account. By utilizing this tool, you may be eligible for a tax break and the tax-free growth might also be used to pay for tuition in later years!
For more information, visit: https://maryland529.com/Invest...
To open your account, visit: https://maryland529.com/enroll-now
To apply for the State Contribution Program, visit: https://maryland529.com/MDMatch25