First Step Program

The one-time $121 gift contribution from CollegeInvest is available for any child born or adopted in the State of Colorado on or after January, 1 2020. The Account Owner and child must be a U.S. citizen or resident alien with a Social Security number or federal tax identification number. The Applicant must apply for the program before the child’s 8th birthday. Limit one First Step enrollment per child.

We receive birth and adoption information from the State of Colorado on a monthly basis. We add that into the online application system for verification purposes. The updated data is refreshed on the 15th of the month so there will be a slight delay before you can apply. For example, if the child was born or adopted in the month of February, you must wait until March 15th or later to apply.

Participation in the First Step Program is FREE! If you don’t already have a CollegeInvest Account, you will need to open an account naming the child as the Beneficiary. If you need help choosing a plan, click HERE.

Most plans can be opened unfunded, but you may also choose to make an initial contribution, or set up automatic contributions from your checking or savings account. You can even have your Colorado state income tax refund deposited directly into your CollegeInvest College Savings Account!

While the initial gift contribution to your CollegeInvest account cannot be claimed as a Colorado state income tax deduction, any subsequent contributions that you make to the account now or in the future can be deducted.

Matching funds from CollegeInvest also are not eligible for the Colorado tax deduction.

Grandparents (and other family members or friends) are now able to claim the $121 First Step gift contribution for children born or adopted in the State of Colorado from 2020 on. You must have a CollegeInvest account with the child named as the beneficiary, or you can open a new CollegeInvest account. Limit one First Step enrollment per child.

However, the $1,500 matching incentive is only available to the child’s Parent or legal Guardian that opens an account and enrolls in First Step. The incentive was created to encourage new Parents or legal Guardians to begin a regular pattern of saving for the child’s higher education goals.

Sign up by clicking the “Claim your $121 now” button at the top of this page. If you haven’t yet opened a CollegeInvest 529 Account, choose, “No, but I’m interested” on the next screen to receive a few emails from CollegeInvest which will guide you through the process of opening a 529 account and applying for First Step.

CollegeInvest provides eligible Parents or legal Guardians with up to $500 in matching funds for 3 consecutive years, totaling up to $1,500. We’ll contact you in January each year to confirm your account information. Then all the contributions up to $500 per year that you make for the next 3 years will be matched. Eligible contributions are contributions made by the Account Owner (and Parent or legal Guardian of the Beneficiary) during the contribution period. Upromise, Ugift, employer, promotions including but not limited to the initial First Step award, and other non-account owner contributions do not qualify.

Parents or legal Guardians of the eligible beneficiary who open a CollegeInvest account, naming the eligible child as the beneficiary and enroll in First Step are eligible for the dollar-for-dollar matching program! Eligible participants must meet the following requirements:

• Any child born or adopted in the State of Colorado on or after January 1, 2020.
• The Account Owner and child is a U.S. citizen or resident alien with a Social Security number or federal tax identification number.
• The Parent or legal Guardian must apply for the program and do so before the child’s 8th birthday.

You must apply for First Step in order to be enrolled in the program. You must do so before your child’s 8th birthday. We receive birth and adoption information from the State of Colorado on a monthly basis. This updated data is refreshed on the 15th of the month. So, for example, if your child was recently born or adopted in the month of November, you must wait until December 15th or later to apply.

You will have the full calendar year to contribute to the account. The CollegeInvest match will be deposited in April following the calendar year.