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CollegeInvest will match funds for college savings

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Contributed by: Jennifer Robinson on 2/21/2007

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 it's 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 May 31 to be pre-approved to receive matching grants on contributions they make to CollegeInvest 529 college savings plans in 2007.

"The rising cost of college is a concern for many Colorado families," said Jennifer Robinson, 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 the only college savings plans that combine federal tax advantages with a Colorado income tax deduction for all contributions. Money saved through these 529 plans can be used nationwide at any eligible public or private college, university or vocational school.

The Matching Grant Program has made a difference for many families enrolled in the program in years past.

"Nobody can guarantee their income status or absolute job security for the long term," said Kristina Amber Hayes who enrolled in the Matching Grant Program two years ago. "However, my daughter's education will not be compromised by unseen bumps in the road because of planning today."

"I have most certainly recommended CollegeInvest's Matching Grant Program to friends," said Stephanie Vangelis, who also is enrolled in the program. "It's so easy and rewarding. College does not feel like a burden to us now."

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 2005 federal poverty level. Visit CollegeInvest.org/MatchingGrant for a complete income guideline qualification chart. You may also call 1-800-478-5651 for more information.

About CollegeInvest

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, scholarships, college savings plans, and low-cost student and parent loans. For more information, visit www.collegeinvest.org or call 1-800-COLLEGE or contact your financial advisor.

___________________________________________________
Jennifer Robinson is the chief marketing officer for CollegeInvest.

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Erin Williams

Erin Williams has posted 373 stories and 67 comments since joining on 6/21/2006. Erin Williams's average story rating is 4.85.

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