Education Planning
It’s never too early or too late to start planning for tuition. Woodsboro Bank’s expert advisors will guide you on our state’s 529 education savings plan and inform you about payment flexibility, contributions and fees. We are here to help you be as prepared as possible when the time comes to paying for education.
The Maryland 529 college savings plan allows you to save for college based on your budget and how often you want to invest. It provides flexible options, and possible tax benefits. The Maryland 529 trust benefits public schools in the state, but the beneficiary of the trust can use the money to pay for tuition for colleges in other states. If the beneficiary receives a scholarship, the savings plan prepaid funds can be used to pay, for example, room and board. Up to $10,000 per year, per beneficiary can be used toward tuition at K-12 public, private or religious schools.
financial planning for your future
Flexible Saving, Tax Benefits, and More
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