State Treasurer Riley Moore. File image.
CHARLESTON, W.Va. — To commemorate the 20th anniversary of West Virginia’s SMART529 College Savings Plan, state Treasurer Riley Moore has announced a scholarship sweepstakes.
West Virginia families can 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.
“It’s my hope that by doing this sweepstakes, you and your families are going to start thinking about what you want to be when you grow up and how you can accomplish your dream,” Moore said.
Registration for the contest is now open at www.wvtreasury.com/20years.
To be eligible:
– The child must be 14 years old or younger as of Aug. 10, 2022.
– Entries must be completed by a parent or legal guardian.
– The child AND the parent/legal guardian must be a resident of West Virginia.
– Only one entry per eligible child is permitted.
– Multiple children in a household CAN be entered to win.
“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,” Moore said in a release. “We can’t say it enough: It’s never too early to start saving for your child’s future.”
In 2001, the West Virginia Legislature passed the West Virginia College Prepaid Tuition and Savings Program Act to allow the State Treasurer’s Office to begin offering college education savings plans under Section 529 of the 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.
Moore said a SMART529 Plan is a great option for all West Virginia families.
“You don’t have to save a lot. You can put away as much as you can afford and we’ll help you invest in it. It keeps growing until you’re ready to go to college or other schools later in life,” the treasurer said.
Since its birth, 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.