SMART529 Matching Grant Program Expands

SMART529 Matching Grant Program has expanded and is now open to all eligible families, including families who have a SMART529 college savings account already, according to a news release from the State Treasurer's office.

Families may be eligible to receive a savings match of up to $500 a year and up to $2,500 lifetime per child if the family qualifies. Officials said the funds may be used for higher education expenses at eligible institutions.

To qualify for the program, the beneficiary must be a W.Va. resident and must be 12 years of age or younger; the account holder must have filed a state income tax return as a W.Va. resident in the year prior to opening a SMART529 account; the family must meet income requirements; and the account holder must be able to claim the beneficiary as a dependent for income tax purposes, according to the news release.

"We are very excited that this program will now benefit all eligible students no matter if they are currently in the SMART529 program or still considering joining it," said State Treasurer John Perdue. "A college education is the best possible way to start your child off on the right track; however, paying for a college education today can be challenging. The matching grant program will help those with the biggest challenge jump start their college savings plan."

The U.S. Department of Labor indicates that college graduates earn nearly twice as much as high school graduates. In addition, "90 percent of the fastest growing jobs of the future will require some post-secondary education or training," Perdue said.

To download a copy of the Smart Savings Match grant application, visit www.SMART529.com. There, you can also learn more about how to open an account.


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