Fucking fantastic. We have a chunk of savings set aside for Finn’s education in something called the Maryland Prepaid College Trust. It’s a vehicle that lets us lock tuition costs in at the time of contribution, with the state basically assuming any risk of inflation. Sounds good, right?

Turns out there’s been some shenanigans with the system, and a bunch of people haven’t been able to access their funds:

According to the Maryland Prepaid College Trust, trouble in the prepaid plan surfaced shortly after the trust transitioned program management from an in-house team to a third-party vendor, Intuition College Savings Solutions, in November 2021.

They held a board meeting that went extremely poorly last night, where they were required by law to tell the public and let us attend, but basically called roll and then went into a closed session without providing any update. They’ve been evasive and shitty about this for months, apparently, and this erodes all of the trust I have in the program. I had to look at our account two weeks ago for something unrelated, and all of the money we invested was there at that point, but fuck’s sake, this is scary. That money is a sizeable investment for our family. If it were to disappear for some reason, that would set us back years.

Date posted: December 21, 2022 | Filed under money | Leave a Comment »

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