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CollegeInvest’s $1-for-$1 Matching Grant Program
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.
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