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Maryland parents call on lawmakers to fix college savings plan

March 17, 2023

A plan is moving forward to help Maryland parents caught up in the problems with the state’s 529 College Savings plan. The state’s 529 college savings plan, which is a state-sponsored investment plan that enables users to save money for a beneficiary and pay for education expenses, had an error that left hundreds of people unable to take money out of their accounts, due to an interest calculation glitch within the program. Some parents said they were not able to tap the money they saved for years, while others said they lost tens of thousands under the plan.

Article Source: WTOP

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