September is both College Savings Month and Hispanic Heritage Month, the perfect time for families to celebrate two important concepts: financial literacy and the history and culture of the U.S. Latino and Hispanic communities. ScholarShare 529, California’s official college savings plan, offers eligible families the opportunity to take the first step to make their college dreams a reality by providing them with up to $225 in free money if they open an account and contribute regularly.
The Matching Grant Program is uniquely designed to assist income eligible families with saving for their children’s future higher education expenses such as tuition, room and board fees, books, and other educational equipment, including computers and laptops. The program provides a dollar-for-dollar match on contributions up to $200, plus another $25 bonus for establishing a monthly recurring contribution plan.
“With so much to celebrate, September is an especially good time to inform and remind loved ones that a 529 plan is the easiest way to save for higher education,” said Julio Martinez, Executive Director of the ScholarShare Investment Board. “We highly encourage families, especially those with first-generation college attendees and who are from low- to moderate-income households, to apply to the Matching Grant Program and start the path to saving for their future education.”
ScholarShare 529 works closely with community-based organizations across California to help eligible families apply and learn more about the enrollment process. To participate in the Matching Grant Program, eligible parents/guardians must be California residents at enrollment, open a new ScholarShare 529 account for a beneficiary who is 14 years old or younger, have a valid social security number or a federal tax ID number, and have an annual adjusted gross income of $75,000 or less.
For more information about ScholarShare 529’s 2021 Matching Grant Program, including eligibility requirements, complete terms and conditions, and instructions for applying, visit www.ScholarShare529.com/MGP.
About ScholarShare 529
ScholarShare 529 serves as California’s official college savings plan. Administered by the ScholarShare Investment Board, ScholarShare 529 provides families with a valuable tool that offers a diverse set of investment options, tax-deferred growth, and withdrawals free from state and federal taxes when used for qualified higher education expenses, such as tuition and fees, books, certain room and board costs, computer equipment, and other required supplies.
To open a ScholarShare 529 account or get more information about the plan, visit https://www.scholarshare-espanol.com/. Spanish speaking representatives are available to help with the enrollment process. Call: 1-800-544-5248, M-F. — 8:00 AM – 7:00 PM PT. For information about the ScholarShare Investment Board, visit www.treasurer.ca.gov/scholarshare, like ScholarShare 529 on Facebook at https://www.facebook.com/ScholarShare529.Espanol, subscribe to the YouTube channel at https://www.youtube.com/channel/UCtlSHU65BSCSpYCAmSVXl4Q and follow them on Twitter at @ScholarShare529.