CAP Utah Student Prosperity Savings Programs
Get $100 in a College Savings Account just by signing up and earn $500 annually
Get a jumpstart on your child's education with a scholarship 529 college savings account. CAP Utah has teamed with my529 to start your child's account with $100 just for signing up through a provider in our network. Find a provider in your area here.
A student with dedicated funds for education knows their future is bright and people are saving for it!
How do I get the $100?
Students are awarded an account and initial funding of $100 from CAP Utah just by signing up. CAP Utah and parents or other private donors build the account.
Where does the money go?
A CSA in your students name is opened and will grow tax free and students can use funds for college classes, either while working toward a degree or taken individually. Also, funds can go toward a certificate from Utah College of Applied Technology.
“A low- and moderate-income child who has school savings of $1 to $499 … is about four times more likely to graduate from college.”
Assets and Education Initiative. (2013). Building Expectations, Delivering Results: Asset-Based Financial Aid and the Future of Higher Education. In W. Elliott (Ed.), Biannual report on the assets and education field. Lawrence, KS: Assets and Education Initiative (AEDI).
Who is Eligible for the Program?
Utah resident under 20 years of age
receiving or have a family member, a foster family member, or a legal guardian who is receiving services from a provider in our network. Find your local provider here.
“Economically disadvantaged,” which means that a child is:
- experiencing intergenerational poverty or
- a member or foster child of a family with an annual income at or below 185% of the federal poverty level or
- either living with a legal custodian or legal guardian with an annual family income at or below 185% of the federal poverty level, or living with a legal custodian or legal guardian who can attest that the child or the child’s household is receiving services benefitting low-income households or individuals
| Number of Family Members | 185% Federal Poverty Level |
|---|---|
| 1 | $26,973 |
| 2 | $36,482 |
| 3 | $45,991 |
| 4 | $55,500 |
| 5 | $65,009 |
| 6 | $74,518 |
| 7 | $84,027 |
| 8 | $93,536 |
| 9 | $103,045 |
| 10 | $112,554 |
| 11 | $122,063 |
| 12 | $131,572 |
| 13 | $141,081 |
| 14 | $150,590 |
| 15 | $160,099 |
