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CollegeBoundfund® Matching Grant Program
* * * Important Message * * *

The 2012 Matching Year will be the last year of taking new applicants under the current Matching Grant program regulations.


The application period for the 2012 Matching Grant runs from January 1, 2013 to April 30, 2013. CollegeBoundfund accounts established prior to January 1, 2013 that have not previously qualified for Matching Grant awards must apply for the 2012 Matching Grant by April 30, 2013 in order to be grandfathered into the program.


Only those applicants who received matching grant awards for contributions made to their CollegeBoundfund accounts in calendar year 2009, 2010, 2011, or 2012 will be eligible to continue in the program beyond the 2012 Matching Year to the extent they continue to meet eligibility requirements and have not yet reached the limit of five (5) consecutive years of Matching Grant awards.


CollegeBoundfund accounts established on January 1, 2013 or later will not be able to qualify for Matching Grant funds under current program regulations.


Questions may be directed to 1-866-348-3836 or scholarships@riheaa.org.


Please Note -- this message applies only to the CollegeBoundfund Matching Grant program. It does not affect the CollegeBound Baby Grant program. Information on the CollegeBound Baby Grant is available at the CollegeBound Baby website.



The CollegeBoundfund® Matching Grant Program is designed to help low- and moderate-income Rhode Island families save for higher education. The Matching Grant Program will provide eligible participants with matching funds when they open and contribute to their child's CollegeBoundfund® 529 College Savings account.


Eligibility Requirements
  • Rhode Island Resident
  • Dependency Requirement
  • CollegeBoundfund® Account
  • Child Age Requirement
  • Income Requirement
  • Matching Amounts
  • Five Year Limit
  • Full Official Program Description

Description of Terms

Rhode Island Resident: The CollegeBoundfund® participant (e.g. parent, grandparent, uncle, aunt, etc.) and beneficiary (child) must be Rhode Island residents.


Dependency Requirement: The participant must be able to claim the beneficiary as a dependent for tax purposes.


CollegeBoundfund® Account: The participant must establish and make payments to a CollegeBoundfund® 529 College Savings Plan for the child beneficiary. A CollegeBoundfund® account may be established at http://www.collegeboundfund.com/ri/.


Child Age Requirement: The CollegeBoundfund® account must be opened and established before the child beneficiary's 11th birthday.


Income Requirement: To receive matching grant funds, the participant must meet annual income guidelines which can be found on the income guidelines page. Income guidelines are updated every year.


Matching Amounts: For each year that the participant is eligible, RIHEAA will match up to $500 of contributions made to the account for the beneficiary. Those eligible for the $2 for $1 level may receive a maximum annual matching award of $1,000.


Five Year Limit: A single beneficiary may receive no more than five conesecutive years of matching grant awards.


Full Official Program Description: Download a full official description of the program.


 

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