TOOLKIT
Maryland 529 Savings
Quality education, particularly through access to diverse educational choice, is a key to the Church’s position that parents should have the ability to act as first educators of their children.
A quality education also is the first line of defense against the cycle of poverty that often inhibits family stability.
The Conference works with the legislature and our schools on textbook/technology funding, a funding for safety improvements and aging schools, scholarships to help families, and more.
529 Savings Plans
Maryland 529 education savings accounts can be used not only to save for a child’s future college education, but also can be used for K-12 tuition at a Catholic (or other nonpublic) school. (Look under “What is a qualified education expense?” on this page)
- Accounts for a child can be opened by anyone 18 or older (parents, godparents, grandparents, family friends, etc.)
- Federal and state tax benefits
- The state offers a matching contribution of up to $500 (must apply by May 31 each year)
- Up to $10,000 can be used each year for K-12 tuition in Maryland
Key links:
Note: Nothing herein constitutes tax advice. You should consult a tax professional for more information.
BOOST Scholarships
Another state program that provides families support is BOOST, the Broadening Options & Opportunities for Students Today Scholarship Program.
BOOST empowers families with children in grades K-12 the opportunity to select a non-public school for their children if that is the best educational fit.
BOOST is income-based and funded through the state legislature. Join the Catholic Advocacy Network to advocate for funding and for an alert when applications are being accepted (usually late spring).