CollegeInvest savings plans now offer $121 deposit and matching contributions for young children’s accounts [1]
CollegeInvest is Colorado’s official 529 savings program, designed to help families plan for future education costs. These savings plans offer tax-deferred growth and tax-free qualified withdrawals for education expenses such as tuition, books and housing. Contributions are flexible, can be adjusted at any time and offer potential Colorado state income tax benefits depending on your circumstances. Additionally, through CU’s voluntary benefit, employees also have the option to set up payroll contributions, making it easier to save consistently throughout the year.
With new programs like First Step and upcoming educational webinars, there’s never been a better time to explore what a 529 plan can do for you.
Get a head start with the First Step Program
If you are the parent of a child born or adopted since 2020, the First Step Program is an excellent opportunity to jumpstart long-term savings for your children. First Step is a free savings program passed by the Colorado legislature wherein the state provides a $121 contribution to every CollegeInvest account opened for a child born or adopted in the state on or after January 1, 2020.
Parents or legal guardians who start an account for an eligible child by Dec. 31, 2026 can take advantage of a unique one-time benefit. The First Step Program will match your contributions up to $500 per year for three years, a total possible benefit of $1,500, giving families an even stronger boost as they begin building education savings. To learn more or enroll, visit CollegeInvest’s website.
Upcoming webinars for CU employees
To help you understand the benefits of CollegeInvest and make informed decisions about education savings, CollegeInvest hosts several live webinars over the course of the year. Each session will cover 529 basics, tax advantages, investment options, how to get started and more. Additionally, attendees will receive a free $50 starter account through CollegeInvest. Each webinar will run from noon–1 p.m. (MT).
Webinar dates and registration