CollegeInvest 529 Scholarship Program
Terms and Conditions

The 529 Scholarship Program for the 2017-18 school year is now CLOSED. 

The information below applies to the 2017-18 school year for reference only. Check this website in January 2018 for the next 529 Scholarship Program.

The CollegeInvest 529 Scholarship is designed to award scholarships to Colorado residents of middle income families who have planned for a higher education by saving with a CollegeInvest 529 College Savings Account.

Scholarship Eligibility:

To be eligible an applicant must:

  1. Complete the CollegeInvest online application between January 3 to May 15, 2017.

  2. Complete the Free Application for Federal Student Aid (FAFSA) and have an EFC up to $35,000 for the school year applicable to the scholarship year. Federal Pell Grant recipients are not eligible to receive this scholarship.

  3. Be the beneficiary of an account owned by a Colorado resident.

  4. Enroll in an accredited post-secondary institution (public or private college, university, trade or vocational school across the country) in an undergraduate or graduate degree, or certificate program.

  5. Attend school full-time at the time the Scholarship is awarded. If the awardee drops out of school or reduces credit hours below full-time status they will not be eligible for additional/subsequent scholarships.

  6. Be the owner or beneficiary of an eligible CollegeInvest 529 College Savings Account. An eligible account must:

    • Have an account balance of at least $2,000 on May 15, 2017. Returning Scholars may apply for a one-time minimum account balance requirement waiver. By using the one-time minimum balance waiver the applicant becomes ineligible to apply for the 529 Scholarship in the future.

    • Have been open and continuously maintained for a minimum of two years prior to May 15, 2017. 

    • Have a parent, legal guardian, or applicant as the account owner and the applicant as the beneficiary.

    • Be open at the time the Scholarship is disbursed.

The Scholarship award is for one year only. Students may reapply for each year they are enrolled in a post-secondary institution, and otherwise meet the eligibility requirements but may not receive more than $8,000 in total scholarships.

Only one Scholarship per applicant per year, even if the applicant is the beneficiary of more than one account.

Application Process:

The annual application period to apply for the CollegeInvest 529 Scholarship is January 3 through May 15, 2017.

Applicants will need to refer to the following items, when filling out the application:

  1. CollegeInvest 529 college savings plan account information

  2. Student Aid Report(SAR) at www.fafsa.gov

Award Process:

Only complete applications received by CollegeInvest after January 3 and on/or before May 15, 2017 will be considered. The selection will be conducted by CollegeInvest personnel, whose decisions shall be final.

An application is considered complete if all required information has been answered on the online application and a copy of the Student Aid Report (SAR) is attached from www.fafsa.gov. Receipt shall mean submitted via the online application process by midnight on May 15, 2017.

Awardees shall be selected by the number of years the account owner has been saving with CollegeInvest regardless of account balance, if $2,000 or higher. Awards shall be made until all budgeted scholarships are awarded.

Award Notification and Acceptance or Withdrawal:

Awardees shall be notified by email of the Scholarship award no later than July 14, 2017. Awardees must complete their online verification of acceptance for the 529 Scholarship no later than midnight on September 15, 2017. Awardees must submit a copy of their college registration (from the college registrars' office), with the verification of acceptance.

FAILURE TO CONFIRM ACCEPTANCE AND SUBMIT ALL OF THE REQUIRED INFORMATION BY SEPTEMBER 15, 2017 SHALL RESULT IN FORFEITURE OF THE SCHOLARSHIP.

If CollegeInvest determines that an awardee does not meet all of the scholarship criteria, the award notice may be withdrawn at any time.

Alternates:

Should an initial Awardee forfeit their Scholarship and/or not qualify for the Scholarship, CollegeInvest will select an Alternate Scholarship Awardee. The selection will be consistent with the criteria used to determine the initial Awardee. Alternates will be notified by email of the Scholarship award no later than September 19, 2017. Alternate Awardees must email acceptance of the Scholarship and the required additional information (see requirements for initial Awardees above) to CollegeInvest by midnight on October 13, 2017. Alternate Awardees must submit a copy of their college registration with the verification of acceptance.

FAILURE TO CONFIRM ACCEPTANCE AND SUBMIT ALL OF THE REQUIRED INFORMATION BY OCTOBER 13, 2017 SHALL RESULT IN FORFEITURE OF THE SCHOLARSHIP.

If CollegeInvest determines that an Alternate Awardee does not meet all of the criteria, the award notice may be withdrawn at any time. CollegeInvest retains the right to select additional Scholarship Awardees after October 13, 2017 if there are remaining funds available.

Scholarship Disbursements:

Scholarship awards will not be disbursed until Awardees/Alternate Awardees send in their verification of acceptance along with a valid copy of their college registration. Once these items are received and verified, and so long as the award notice has not been withdrawn, Scholarship payments will be disbursed directly to the 529 college savings account listed on the application on October 31, 2017.

Release of Liability:

By applying for this Scholarship you agree to release and hold harmless CollegeInvest and its affiliates, agents, suppliers, distributors, and advertising or promotional agencies from any and all liability, claims, or actions of any kind whatsoever for injuries, damages, or losses to persons and property which may be sustained in connection with the receipt, ownership, or use/misuse of the Scholarship award. Except where prohibited by law, the submission of an application for a CollegeInvest 529 Scholarship constitutes permission to use an awardees name, hometown, likeness, comments or interviews without limitation, for promotional purposes, without further permission or compensation. Applicants also consent to receive information from CollegeInvest by email to the email address submitted within their Application form, but may opt out or unsubscribe at any time by following the directions at the bottom of any CollegeInvest email.

Except for information the applicant has consented that it may be disclosed (including based on the prior paragraph), CollegeInvest does not disclose, sell, rent, trade, or otherwise provide non-public personal information that we have about you or your Scholarship application. CollegeInvest will only disclose non-public personal information to third parties as is necessary to process your CollegeInvest 529 Scholarship.

Authorization Statement:

By submitting this application, I authorize CollegeInvest to release information provided by me to post-secondary institutions for the purpose of determining scholarship eligibility, and to third parties as is necessary to process my scholarship application and to conduct marketing and evaluation activities.

I recognize that records pertaining to students are generally required by the Family Educational Rights and Privacy Act, 20 U.S.C. § 1232g (FERPA) to be held confidential by post-secondary institutions, but that such records may be released upon consent or under certain limited exceptions which include release in connection with application for or receipt of financial aid, such as the CollegeInvest 529 Scholarship.

To the extent that my consent may be required, and to facilitate consideration of my application for the CollegeInvest 529 Scholarship, I hereby give my consent to the post-secondary institution I plan to attend, to release my education records as described below to CollegeInvest for the purpose of determining my eligibility for the CollegeInvest 529 Scholarship:

All documents/information regarding enrollment records, admissions records, financial aid and transcript records, that are in the possession of the post-secondary institution.

I understand that this information may be used only for the purposes for which the disclosure is made and that it will be protected in a manner that does not permit my personal identification to be accessed by anyone except authorized agents and representatives of CollegeInvest. I further understand that this consent will remain in effect until revoked by me, in writing, and delivered to CollegeInvest or the post-secondary institution. Should I revoke this consent, I acknowledge that I will no longer be eligible for a Scholarship award.

Furthermore, I acknowledge and accept that if I am awarded a CollegeInvest 529 Scholarship, the Scholarship shall be deposited into an account that I have no authority or control over how the funds are used unless I am the Account Owner. The Scholarship is for the purpose of paying my education expenses, and it is my understanding that the Account Owner of the CollegeInvest 529 account intends to use the Scholarship funds for this purpose.

These terms and conditions are subject to change without notice.