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ScholarShare 529 – 2020 Matching Grant Program

Grantor:
State Treasurer's Office
Portal ID:
3279
Status:
Closed
Opportunity Type:
  • Grant
Last Updated:
Categories:

Details

Purpose:

Nothing has a bigger impact on the professional success and upward economic mobility of young people than a higher education. But, for many families, the dream of sending their children to college has climbed beyond reach as costs and student loan debt skyrocket. That’s why ScholarShare 529, California’s state-sponsored 529 college savings plan, is offering eligible families a matching grant to help kickstart the college planning process. 

Description:

ScholarShare 529, California’s college savings plan, is offering a matching grant to help families make the most of their college savings. Eligible families, who apply online and open a new ScholarShare 529 account between February 1, 2020 and December 31, 2020, will receive a dollar-for-dollar match up to $200! Plus, families who establish recurring contributions of $25 or more each month when opening an account will receive another $25.

Eligibility Requirements

Eligible Applicants:

  • Individual

The applicant must: (1) submit the application online and open a new ScholarShare 529 account by December 31, 2020, (2) be the parent or legal guardian of the Program Beneficiary (who must be 14 years old or younger as of December 31, 2020 and cannot be a Beneficiary of an existing ScholarShare 529 account), (3) be a California resident at the time of enrollment, and (4) have a household adjusted gross income (AGI) of $75,000 or less. 

Eligible Geographies:

The applicant must be a California resident at the time of enrollment into the Program.

Important Dates

Application deadline The date (and time, where applicable) by which all applications must be submitted to the grantor.
Period of performance The length of time during which the grant money must be utilized.
2/1 - 12/31/2020
Anticipated Open Date
February 1, 2020

Funding Details

Expected number of awards A single grant opportunity may represent one or many awards. Some grantors may know in advance the exact number of awards to be given. Others may indicate a range. Some may wish to and wait until the application period closes before determining how many awards to offer; in this case, a value of “Dependent” will display.
Dependent
Estimated amount per award Grant opportunities representing multiple awards may offer awards in the same amount or in varied amounts. Some may wish to wait until the application period closes before determining per-award amounts; in this case, a value of “Dependent” will display.
$1 – $225
Letter of Intent Required? Certain grants require that the recipient(s) provide a letter of intent.
No
Requires Matched Funding? Certain grants require that the recipient(s) be able to fully or partially match the grant award amount with another funding source.
No
Funding Source: The funding source allocated to fund the grant. It may be either State or Federal (or a combination of both), and be tied to a specific piece of legislation, a proposition, or a bond number.
  • Other

Funding Source Notes:

Annual marketing commitment of third party provider.

Funding Method: The manner in which the grant funding will be delivered to the awardee. Funding methods include reimbursements (where the recipient spends out-of-pocket and is reimbursed by the grantor) and advances (where the recipient spends received grant funds directly).
None

How to Apply

State agencies/departments recommend you read the full grant guidelines before applying.

Resources

For questions about this grant, contact:
1-916-651-6380, scholarshare@treasurer.ca.gov

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