Frequently asked questions about 529 Scholarships:
Do I qualify?
To be eligible an applicant must:
- Complete the CollegeInvest online application 2020 during the current Application period.
- Complete the Free Application for Federal Student Aid (FAFSA) and have an Expected Family Contribution (EFC) up to $45,000 for the school year applicable to the scholarship year. Federal Pell Grant recipients are not eligible to receive this scholarship.
- Be the Beneficiary of an account owned by a Colorado resident.
- Enroll in an accredited post-secondary institution (public or private college, university, trade or vocational school across the country) in an undergraduate or graduate degree, or certificate program.
- Attend school full-time at the time the Scholarship is awarded. If the awardee drops out of school or reduces credit hours below full-time status they will not be eligible for additional/subsequent scholarships.
An eligible account must:
- Have an account balance of at least $2,000 on the last day of the current Application period. Returning Scholars may apply for a one-time minimum account balance waiver. By using the one-time minimum balance waiver, the applicant becomes ineligible to apply for the 529 Scholarship in the future.
- Have been open and continuously maintained for a minimum of four years prior to the last day of the current Application period.
- Have a parent or legal guardian as the account owner and the Beneficiary as the student.
- Be open at the time the Scholarship is disbursed.
What do I need to apply?
If you are interested in applying for the 529 Scholarship and meet the eligibility requirements, you will need the following information:
- The full name of the account owner of your CollegeInvest 529 college savings account.
- Your CollegeInvest savings account number.
- The date your CollegeInvest account was opened.
- From your Student Aid Report (SAR), the Expected Family Contribution (EFC) number (refer to your account at fafsa.gov for this number).
- A copy of you SAR, saved in PDF format, named with the following sequence: SAR.lastname.firstname.pdf
- Enrollment Verification – An official document from the college the beneficiary is attending fulltime in the fall of 2020 or from the student clearing house at https://www.studentclearinghouse.org/