GEAR UP Partner Spotlight: Scholarshare

By , June 9, 2010

May and June is Education Trust Awards season for California GEAR UP schools, so we thought we would share some information on our partner, ScholarShare. ScholarShare is California’s official 529 College Savings Plan. 529 plans are tax advantaged savings vehicles named for the section of Internal Revenue Code under which they were created. Earnings on 529 investments grow tax-deferred, and disbursements, when used for qualified higher education expenses, are federal and state tax-free.

ScholarShare is a great way to start saving for college for the following reasons:

  • Accounts may be opened online with as little as $50, or $15 with automatic monthly contributions
  • No annual account maintenance fee
  • No income limit

ScholarShare is the investment partner for the California GEAR UP Education Trust Awards. Award recipients are selected by school personnel at California GEAR UP middle schools.  The awards are available to students within one year of high school graduation and upon college enrollment. California ETA awards are in the amount of $2,000 and can reach up to $2,500 by the time students attend college.

For more information on ScholarShare, visit their site or take a look at the comprehensive information on CaliforniaColleges.edu.

The ScholarShare College Savings Plan is administered by the ScholarShare Investment Board, an agency of the State of California. Neither the principal deposited nor the investment return is guaranteed by the State of California, ScholarShare Investment Board, Fidelity Investments or any affiliate thereof, or the federal government or any agency thereof. Units of the Portfolios are municipal securities and may be subject to market volatility and fluctuation.

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categories Education Trust Awards (ETA), Partnerships

One Response to “GEAR UP Partner Spotlight: Scholarshare”

  1. California GEAR UP blog » Mesa Intermediate is Proud of Their Awardees says:
    July 2, 2010 at 9:09 am

    [...] to give to students based on a team selected criteria. Each award is worth $2000 and is put in a Scholarshare account to accrue interest until the students enter college or other qualifying education [...]

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