College savings program helps low-income families - WRCBtv.com | Chattanooga News, Weather & Sports

College savings program helps low-income families

Posted: Updated:

NASHVILLE, Tenn. (AP) - The Tennessee Treasury Department is announcing a program to help low-income families build college savings.

Under Tennessee Investments Preparing Scholars, the state will provide enhanced matches for money invested by families that have accounts in the Treasury Department's TNStars college savings program and meet the income requirements.

For example, eligible families that invest the minimum of $25 in TNStars will qualify for $100 from the state, which will be invested in separate accounts. Families that invest $125 or more per year will receive the maximum allowable funds of $500.

The matching grants will be provided to the first 2,000 eligible families that complete the application process and make qualifying deposits during the qualifying period, from Oct. 1, 2014, through June 30, 2015.

For more information, visit http://www.tnstars.com .

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly