Recent State News
CollegeInvest doubles its Matching Grant commitment for Colorado's low to middle-income families
Beginning with the 2021 application period, CollegeInvest has broadened the impact of its Matching Grant program with both an increase in the amount available to qualifying families, and raising income guidelines to allow even more families to boost their college savings. CollegeInvest's Matching Grants will be doubled from $500 per year to up to $1,000 per year for qualified families, up to five years. An income-qualified Colorado family working to save $5,000 over a five-year span, could see their savings doubled to $10,000.
ABLE Utah accounts allow individuals with disabilities to save and invest without losing benefits
The Utah Department of Workforce Services and the Utah State Treasurer’s Office have announced the launch of ABLE Utah, a tax-free savings program for individuals with disabilities receiving needs-based benefits.
Virginia 529 plan becomes first to top $100 billion mark
Virginia College Savings Plan, Richmond, became the first program of its type to reach the milestone of $100 billion in assets. The program known as Virginia529 had $100.2 billion in assets as of June 30.The program consists of adviser-sold program CollegeAmerica, which is managed by Capital Group Cos. and had about $89.7 billion in assets as of June 30; direct-sold program Invest529 with $7.5 billion in assets; and the legacy prepaid tuition program Prepaid529 with $3 billion in assets, said CEO Mary Morris.Virginia529 was launched in 1996, and as the program marks its 25th anniversary, CEO Mary Morris said the $100 billion milestone is meaningful because it represents how much families have come to understand the value of education and funding for it, even during tough times like the pandemic.