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Reply to "MD 529 pre paid tuition debacle"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Why would you get interest in a prepaid plan? I thought you were just pre-paying and thereby “locking in” lower tuition rates? [/quote] for those change their mind, they can get money back with certain interest rates[/quote] It is complicated- depending when people bought, they overpaid for their contracts. And the trust was grossly overfunded. Subsequently- the board decided to give interest on initial investments at the rate of 6%. In December 2021 they trust issued annual statements that overvalued the amount of the accounts but people were told it was accurate. It is a very big mess.[/quote]
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