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Reply to "Prepaid vs. College America"
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[quote=Anonymous][quote=Anonymous]Where are you getting your info that Maryland has changed their policy of allowing the prepaid to be used at nearly any college anywhere in the country? If you look at the current policy online there is absolutely no indication of this. Currently you are able to switch your funds between prepaid and investment accounts as well. Our financial planner thinks the prepaid is a great deal and encourages the purchase of it even if you don't think your child will go to an in state institution. [/quote] I don't remember where I heard or read that, but I looked at the disclosures on line and I agree it seems to be clear that the information was wrong and they haven't changed the policy-- If your Beneficiary attends a Maryland public college, the Prepaid College Trust will pay the full in-state or in-county tuition and mandatory fees (Tuition) at that college or your Minimum Benefit, whichever is greater. If your Beneficiary attends a private or out-of-state college, the Prepaid College Trust will pay Tuition up to either the Weighted Average Tuition or your Minimum Benefit, whichever is greater. You would then have to make up any difference. sorry about that, but I feel better having tracked it down-- and I agree it's a great option whether or not your kid ends up at a MD state school :)[/quote]
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