Tuition plan

Deadline nears: State program lets parents pay now for children's future college education.

May 30, 1999

NOW is the time for parents to do some long-range planning for their kids' college education. A year-old state program lets them avoid inflationary tuition costs by enrolling in the Maryland Prepaid College Trust. The current sign-up period ends June 10.

It's a money-winner. The program offers tax benefits as well as an array of savings options. For instance, parents of a newborn infant could cover full tuition at any Maryland public college -- or partial payment at any private college -- for only $143 a month.

By the time an infant is of college age, a four-year public education is expected to cost $65,000. A lump-sum investment of $16,777 into the college trust, though, would pay for it all.

No more worries about having the money when junior turns 18. By enrolling now, parents gain peace of mind that their children can go to college, regardless of how much it may cost in the future.

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