Maryland’s college savings plan ranks high
April 18, 2008
Maryland is in the top tier on this report card.
For the second year in a row, Maryland’s College Investment Plan is rated as a top choice by Morningstar Inc. in its report on the best - and worst - college savings plans.
Our state’s plan, managed by T. Rowe Price, earned its top position due to its “solid lineup of actively managed funds.” Low fees also count in its favor: the annual fees range from 0.68% to 0.97%, which is reasonable for actively managed funds.
Also included in the “best” category: Colorado, Illinois, and two plans from our neighbor, Virginia.
If you’re saving for your child’s education, Morningstar says, be glad you’re not in these states: Mississippi, Nebraska, New York and Ohio.
JACKIE SAUTER, Web Editor
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