DENVER, Nov. 17, 2020 /PRNewswire-PRWeb/ -- CollegeInvest, Colorado's self-sustaining not-for-profit college savings resource, is providing extra support for middle to lower-income families, with its Matching Grant Program. Applications for the program are open now through December 31, 2020.
Now in its 16th year, the Matching Grant Program is a substantial benefit to the Colorado families most in need of help, with a dollar-for-dollar match of their hard-earned savings, up to $500 each year, for up to five years. The Matching Grant Program matches contributions to CollegeInvest's college savings plans dollar-for-dollar for qualifying middle- to lower-income Colorado families, providing up to $500 in matching funds annually. Families may qualify for up to five years – meaning that one family could turn an investment of $2,500 into $5,000.
"Especially in view of the current economic challenges due to the pandemic, our Matching Grant Program offers real support that actually puts more money in the college savings accounts of Colorado's hard-working families," said Angela Baier, CollegeInvest's chief executive officer. "We are proud to provide these programs that make education more affordable for all Colorado families."
CollegeInvest's need-based Matching Grant and 529 College Scholarship Programs combine to provide $1.2 million in additional college savings for Colorado's low and middle-income families, every year. Since 2004, these programs have helped Colorado families reduce the cost of college with $5.5 million, directly added to the education savings of families for whom cost is often a barrier to higher education, and is projected to provide an additional $15 million over the next 10 years. These essential programs are entirely underwritten by CollegeInvest's investment partners, and are operated independent of administrative fees charged, and without any tax dollars.
Based on the principle that saving for higher education is a vastly more effective strategy than borrowing, CollegeInvest is Colorado's trusted resource in breaking down the financial barriers to attaining a postsecondary education, whether through community college, vocational training or a four-year university. Savings can be even be used for online learning, which is more important now than ever before. For more information, please visit https://www.collegeinvest.org
About CollegeInvest
CollegeInvest is Colorado's foremost resource designed specifically to help break down the financial barriers to attaining a higher education or vocational training. By providing expert information, easy-to-use planning tools, and an exceptionally diverse menu of tax advantaged college savings plans, CollegeInvest works to help Coloradans maximize their potential to save for college. CollegeInvest currently represents $9.8 billion in savings, and 375,000 accounts, the majority of which are held by Colorado residents. Money saved in a CollegeInvest 529 savings plan can be used at any public or private college, university, community college or vocational school, anywhere in the country. For more information, visit https://www.collegeinvest.org or call 1-800-448-2424, or contact your financial advisor.
Important Considerations
To learn about CollegeInvest's 529 program, its objectives, risks, charges, expenses, limitations, restrictions and qualifications regarding the Plans' benefits and potential tax advantages, please read and consider carefully the Program Disclosure Statements (PDS) available at http://www.collegeinvest.org before investing. Also, check with your or your beneficiary's home state to learn if it offers tax or other benefits for investing in its own plan. Administered and issued by CollegeInvest. CollegeInvest and the CollegeInvest logo are registered trademarks of CollegeInvest. Copyright ©2020 CollegeInvest.
Media Contact
Susan Hagar, Hagar Communications, 7209351777, [email protected]
Mike Blake, CollegeInvest, (303) 376-8809, [email protected]
SOURCE CollegeInvest
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