Matching grant program to help Nevada families save for college

Nevada State Treasurer Kate Marshall and the Upromise College Fund 529 Plan’s Program Manager, Upromise Investments, announced Tuesday the launch of the Silver State Matching Grant Program.

This new initiative allows qualifying Nevada families, who are Upromise College Fund 529 Plan account owners, to be considered for a matching grant of up to $300 of extra college savings per calendar year with a lifetime maximum grant of $1,500. The program began this year, and will accept applications each year, from March 1 through June 30.

“The Silver State Matching Grant Program will provide lower- and middle-income Nevada families with a greater ability to save for their children’s higher education needs,” Marshall said. “This is yet another avenue we have added to the Upromise College Fund 529 Plan to help our residents meet the escalating costs of higher education.”

Qualifications for the Silver State Matching Grant Program include:

— Both the account owner and the beneficiary must be Nevada residents.
— The beneficiary must be 13 years or younger at the time the first matching grant is approved.
— The applicant must have a Upromise College Fund 529 Plan account.
— The applicant's household adjusted gross income (AGI) in the previous year must have been $61,950 or less.

When an applicant is approved, the funds will be deposited into a separate matching grant account after the account owner contributes to their own account; a beneficiary may only be awarded one matching grant per year.

“During a time that is marked by economic hardship across the country, Nevada’s matching grant program can make a difference for many of its families,” said Mark Chapleau, president of Upromise Investments. “This effort demonstrates the high priority that Nevada places on creating new opportunities for students of all income levels, and we are proud to be a part of that process.”

The Silver State Matching Grant Program joins other features that help Nevada families save for higher education. Ugift – Give College Savings gives account owners an easy way to invite family and friends to celebrate occasions with gift contributions to a beneficiary's Upromise College Fund 529 Plan account. The Upromise rewards service lets families earn college savings on eligible everyday purchases, including shopping online, dining out, and traveling. The extra money from a Upromise rewards service account can add up over time when it is automatically transferred to a Upromise College Fund 529 Plan account.

For information about the Silver State Matching Grant Program, go to www.upromisecollegefund.com/match.

Matching grants are subject to availability of funds, and there is no guarantee of the continued operation of the Silver State Matching Grant Program.

For information about the Upromise College Fund 529 Plan call (800) 587-7305 or go to www.upromisecollegefund.com to obtain a Plan Description and Participation Agreement. Investment objectives, risks, charges, expenses, and other important information are included in the Plan Description; read and consider it carefully before investing. Upromise Investments, Inc., Distributor and Underwriter.
If you are not a Nevada taxpayer, consider before investing whether your or the designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

The Upromise College Fund 529 Plan is administered by the Board of Trustees of the College Savings Plans of Nevada, chaired by Nevada State Treasurer Kate Marshall. Upromise Investments, Inc., serves as the Program Manager and has overall responsibility for the day-to-day operations, including marketing and distributing the Plan. The Vanguard Group, Inc., serves as Investment Manager.

The value of an investment in the Upromise College Fund 529 Plan will vary with market conditions. Investments in the 529 Plan are not FDIC-insured or government guaranteed, and you could lose money. Investing regularly does not assure a profit and does not protect against loss in declining markets.