Families enrolled in a popular college savings plan will face additional delays in accessing their funds, the official in charge of Maryland’s “529” programs said on Thursday. Anthony Savia, the head of the Maryland Prepaid College Trust and the College Investment Plan, said his team has made “significant progress” in its efforts to fix an error in how interest for trust account holders is calculated. But he declined to commit to a “date certain” for resolving the issue completely. “We are committed to doing this right and fixing an ongoing problem,” he said. Savia, who took the reins of the program over the summer, spoke during a virtual “town hall” meeting at which he provided an update on efforts to set accounts straight.
Access to some college savings funds will be curtailed until at least Oct., official says
September 30, 2022