June 28th, 2023 by WCBC Radio

Thousands of 529 account holders are unsure how much is in their prepaid college funds. A calculation error with the Maryland Prepaid College Trust showed accounts had overblown interest balances, leading participants to believe more money was available for college expenses. Those accounts are now locked as an audit is done to correct the error and revise account balances.  In the meantime, account holders have had to find other financial sources to pay college expenses. The state hopes to have the issue resolved sometime in the fall.