CollegeInvest's First Step Program Report Shows Continued Enrollment Growth and Financial Support for Families

CollegeInvest's First Step Program: A Growing Opportunity for Families in Colorado

The First Step program, initiated by CollegeInvest, is witnessing remarkable growth as it moves into 2025, proving to be a significant support system for families planning for higher education. CollegeInvest, a not-for-profit organization dedicated to enhancing access to college funding, has successfully engaged thousands of families across Colorado since the program's inception.

In 2024 alone, the enrollment in the First Step initiative surged by nearly 30%, now benefiting over 18,000 children born or adopted in the state. This impressive growth not only demonstrates the program's appeal but also reflects the increasing awareness among families regarding the importance of early financial planning for education.

Origination of the program in 2019 was a result of bipartisan efforts that saw legislation passed to promote educational savings among families in Colorado. Each newborn or newly adopted child since January 1, 2020, is entitled to a one-time contribution of $118 deposited into a CollegeInvest account, offering a considerable head start on their educational journey. Remarkably, the program operates without using taxpayer money or incurring administrative fees, ensuring that funds are directed entirely towards educational savings. To date, CollegeInvest has awarded a substantial $2 million, allowing parents to claim these funds until their child's eighth birthday.

Moreover, the enhancements introduced in 2022 demonstrate CollegeInvest's commitment to fostering a culture of savings. Many families in the First Step program receive matching funds for a specific portion of their ongoing contributions. This innovative incentive contributes an additional $500 annually over five years, leading to a potential total of $2,500 in matching funds. By the end of 2024, First Step is set to inject approximately another $10 million into children’s savings accounts, raising the total to over $22.8 million since launch.

Angela Baier, the CEO of CollegeInvest, expressed pride in the program's performance, noting, "We are proud to see the continued success and growth of the First Step program as more and more Colorado families embrace the opportunity to invest in their children’s future.” This statement highlights how these initiatives not only provide financial assistance but also encourage values of financial literacy among families and young people.

Parents or guardians interested in exploring the First Step initiative and its corresponding incentives can find comprehensive information available online at CollegeInvest's First Step webpage. This resource is designed specifically to support families by breaking down financial barriers to higher education.

By emphasizing savings over borrowing, CollegeInvest ensures that families in Colorado can better navigate the financial landscape of future education costs. Whether their children aspire to attend vocational schools, community colleges, or prestigious universities, the First Step program is paving the way towards a more secure financial future.

In conclusion, CollegeInvest's First Step program represents a vital step in helping families afford education, fostering financial responsibility while building a brighter future for Colorado's children. Its growing success reflects the evolving educational landscape and the community's commitment to nurturing the next generation.

For further information about CollegeInvest and their wide-ranging college savings plans, visit www.collegeinvest.org, where families can access tools and resources to maximize their savings potential.