CHARLESTON, W.Va. (WVDN) – On August 10, 2022, State Treasurer Riley Moore joined students and faculty of Piedmont Elementary School in Charleston to launch a special scholarship sweepstakes to commemorate the 20th anniversary of West Virginia’s SMART529 College Savings Plan.
West Virginia families can visit www.wvtreasury.com/20years to enter their children aged 14 and younger to win one of three $20,000 SMART529 scholarships which will be randomly awarded to one lucky child each month from October through December.
“We’re excited to announce this $20,000 scholarship sweepstakes to mark the 20th anniversary of West Virginia’s premiere college savings plan: SMART529,” Treasurer Moore said. “I want to encourage every family to visit our website and enter their child for a chance to win one of these three prizes that will help them achieve their educational dreams.”
Registration for the contest is now open at www.wvtreasury.com/20years.
To be eligible:
1. The child must be 14 years old or younger as of Aug. 10, 2022.
2. Entries must be completed by a parent or legal guardian.
3. The child AND the parent/legal guardian must be a resident of West Virginia.
4. Only one entry per eligible child permitted.
5. Multiple children in a household CAN be entered to win.
“In addition to celebrating 20 years of the SMART529 plan, we hope this contest inspires children and parents to start thinking ahead and planning for their educational futures,” Treasurer Moore said. “That’s why we’re targeting kids from age 14 and under for this sweepstakes, because we want them and their families to start thinking early about their future education plans.
“Research shows that children with even a small amount of college savings are 2.5 times more likely to graduate from college, and we hope this contest inspires families to learn about the SMART529 plan and open an account today,” Treasurer Moore said. “We can’t say it enough: It’s never too early to start saving for your child’s future.”
Official sweepstakes rules and additional details are available at www.wvtreasury.com/20years.
The West Virginia Legislature passed the West Virginia College Prepaid Tuition and Savings Program Act in 2001 to allow the State Treasurer’s Office to begin offering college education savings plans under Section 529 of Internal Revenue Code.
On March 1, 2002, the program’s Board of Trustees and Hartford Funds signed a management agreement officially launching West Virginia’s SMART529 College Savings Plan to the public.
Since then, the SMART529 College Savings Plan has grown to nearly $3 billion in assets under management, with more than 37,600 accounts held by West Virginia residents, with tens of thousands more accounts held by individuals nationwide.
West Virginia’s SMART529 Plan has been ranked as one of the top direct-sold plans in the country by SavingForCollege.com.
The SMART529 Plan has also been expanded many times over the years to make it more accessible to the public.
Accounts can be opened for as little as $1, and the Bright Babies program has helped more than 4,800 West Virginia infants to receive $100 for an account opened before their first birthday.
Last year, Treasurer Moore announced the launch of the READYSAVE 529 Mobile App to help individuals manage their accounts from the convenience of their smartphones.
Visit www.SMART529.com for more details or to open an account.
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