CollegeInvest, a division of the Colorado Department of Higher Education, announces its Matching Grant program. The program matches contributions to CollegeInvest’s college savings plans dollar for dollar, up to $500 annually, for qualifying middle- and lower-income Colorado families, subject to the availability of funds. Families may qualify for up to five years — meaning the program can help a family increase their higher education savings by as much as $2,500.
Families must apply for the Matching Grant program by May 31 to be pre-approved to receive matching grants on contributions to CollegeInvest 529 College Savings Plans in 2009.
Money saved through these 529 plans can be used nationwide at any eligible public or private college, university or vocational school.
CollegeInvest matching Grant Program At a Glance:
- Colorado families with a household income of less than $67,491 a year should visit www.CollegeInvest.org/MatchingGrant for complete income guidelines and qualifications, or call (800) 478-5651.
- Qualifying families must complete an application and submit to CollegeInvest for pre-approval by May 31.
- Upon approval, make contributions to a new or existing CollegeInvest account for a child 12 or younger who can be claimed as a dependent for tax purposes.
- The matching grant will be awarded dollar for dollar, up to $500 per child (subject to availability of funds), for contributions made in 2009.