John Perdue announced a new SMART529 Matching Grant Program
Cross Lanes, WV – State Treasurer John Perdue announced a new SMART529 Matching Grant Program that will help eligible families save for their child’s education beyond high school. Families who qualify may be eligible to receive a savings match of up to $500 a year, and up to $2,500 lifetime per child. The funds may be used to pay for higher education expenses at any eligible institution.
90 percent of the fastest growing jobs of the future will require some post-secondary education or training. In addition, the U.S. Department of Labor indicates that college graduates earn nearly twice as much as those with a high school degree.
To qualify for the matching grant program:
The beneficiary must be a West Virginia resident, must be 12 years of age or younger, and the account must have been opened after May 2, 2011 or at the time the application is submitted. The account holder (parent/grandparent) must have filed a West Virginia state income tax return as a WV resident in the year prior to opening a SMART529 account.
The family must meet the income requirements (go to www.SMART529.com for detailed information). The account holder must be able to claim the beneficiary as a dependent for income tax purposes.
Visit www.SMART529.com to download a copy of the Matching Grant Application and to learn more about how to open an account. SMART529 is West Virginia’s 529 savings program for education beyond high school. SMART529 is a program of the SMART529 College Savings and Prepaid Board of Trustees under Treasurer Perdue, Chairman, and is administered by Hartford Life Insurance Company.