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In light of criticism of the college savings scheme, the Maryland 529 board chair resigns.

Maryland 529 board chair Peter Tsirigotis resigns after facing withering criticism from state lawmakers. Hundreds of families have been unable to access all of their Maryland Prepaid College Trust accounts. Lawmakers were visibly frustrated with the lack of a firm deadline to fully resolve the problem. Maryland 529 suspended interest payments in August. Hundreds of people with prepaid accounts have been affected by a calculation error.

The agency is charged with managing the state’s college savings plans. It hired third-party accountants to verify the calculations and coding of software.