In Maryland, you can only use the Prepaid plan to pay for tuition and mandatory fees. You would use the 529 assets to pay for additional education expenses like room, board, and computer equipment. So odds are you'll be using both regardless.
You'll want to draw down the prepaid plan first when possible, though. You want to make sure you use all your prepaid assets during college, whereas if you happen to have money leftover in the savings plan you will be able to continue to participate in the market tax-deferred, potentially using those assets down the line for other education expenses.
Good luck,
Brian Boswell
VP, Research & Development
This information does not constitute tax advice and is provided for informational purposes only. Please consult your tax advisor, financial advisor, local taxing authority, and/or plan provider or sponsor for more information.