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The CollegeInvest 529 Scholarship

This program is designed to award scholarships to Colorado residents of middle income families who have planned for a higher education by saving with a CollegeInvest 529 College Savings Plan.

Access your 529 Scholarship account

 

The CollegeInvest 529 Scholarship application period is now closed.

The CollegeInvest Scholarship 529 will open August 3, 2020 and close on September 30, 2020.

This is a great opportunity for students or adults looking to go to college or vocational school for the first time, those planning to go back to school, or looking to change careers. Each eligible student will be awarded $2,000 for the 2020-21 school year.

To be eligible an applicant must complete and submit an online application, complete the FAFSA and substantiate an Expected Family Contribution (EFC) up to $45,000 and not be able to receive a Federal Pell Grant, the account owner must be a Colorado resident, be the owner or beneficiary of an eligible CollegeInvest 529 College Savings Account, have opened and maintained this account for at least four years, and have a minimum balance of $2,000 the last day of the Application period.

The Scholarship award is for one year only.

Applicants may re-apply for each year the Beneficiary is enrolled in a post-secondary institution, and otherwise meet the eligibility requirements, and potentially receive a $2,000 scholarship for up to four years ($8,000 maximum in total). Only one Scholarship per student/Beneficiary per year, even if they are the student/Beneficiary of more than one CollegeInvest account.

The Application Checklist

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.
  • The CollegeInvest savings account number.
  • The date the CollegeInvest account was opened.
  • From the Student Aid Report (SAR), the Expected Family Contribution (EFC) number (refer to the account at fafsa.gov for this number).
  • A copy of the SAR, saved in PDF format, named with the following sequence: SAR.lastname.firstname.pdf (Please note: we will not accept any SAR’s that are password protected.)
  • Enrollment Verification – An official document from the college the beneficiary is attending full time in the fall of 2020 or from the student clearing house at https://www.studentclearinghouse.org/

 

Frequently asked questions about 529 Scholarships:

Do I qualify?
Show Answer

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?
Show Answer

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/

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