Middle - to lower-income families can apply now for up to $2,500 in free matching college money from CollegeInvest
Colorado families have until December 31, 2010 to be preapproved for program
Contact: Susan Hagar
720 935 1777
hagarcomm@comcast.net
FOR IMMEDIATE RELEASE
October 18, 2010
Denver, CO – CollegeInvest, Colorado’s not-for-profit higher education financing resource, is helping middle- to lower-income Colorado families make saving for college a little easier through its Matching Grant Program.
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 consecutive years – meaning that one family could turn an investment of $2,500 into $5,000.
Families must apply for the Matching Grant Program by December 31 to be pre-approved to receive matching grants on contributions they make to CollegeInvest 529 college savings plans.
“The rising cost of college is a concern for many Colorado families,” said Angela Baier, chief marketing officer of CollegeInvest, which is a division of the Colorado Department of Higher Education. “The Matching Grant Program allows families who may not be able to put aside much money for college make their dollars go further.”
CollegeInvest offers college savings plans that combine federal tax advantages with a Colorado state income tax deduction for all contributions. Money saved through these 529 plans can be used nationwide at any eligible public or private college, university, vocational or trade school.
The program is open to Colorado residents whose child is 12 years old or younger when they first apply. Qualifying families’ incomes must be no more than 200 percent of the 2009 federal poverty level. Visit www.CollegeInvest.org/MatchingGrant for a complete income guideline qualification chart. You may also call 1-800-478-5651 for more information.
Matching grant rates and awards are subject to the availability of funds.
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 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 © 2010 CollegeInvest.
About College Invest
CollegeInvest is a not-for-profit division of the Colorado Department of Higher Education. Since 1979, CollegeInvest has helped more than half a million families break down the financial barriers to college by providing expert information, simple planning tools, college savings plans, and scholarships. For more information, visit www.collegeinvest.org or call 1-800-448-2424 or contact your financial advisor.
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