Only nine percent of Baltimore High School graduates with no college experience are earning enough to live on ($15/hour) by the age of 24 (Baltimore BERC)
Students with a college savings account in their name are six times more likely to attend college than one without such an advantage (Center for Social Development; Saving For College; Role of Savings in Reducing “Wilt”)
VLP would like to find a way to help families understand the importance of saving money for college and help them actually do so. Luckily, the State of Maryland created the Save4College program in 2017, providing an avenue to do just that.
Our College Fund for LINK families:
Most of our LINK families will qualify for the Save4College program. That means, for a $25 contribution, they will qualify for a $500 state contribution to the 529 College Savings account. All of the money goes directly to a savings account that can be used for any educational expenses that a student may have in the future.
For every LINK student whose family opens a 529 Account in their name and enrolls in the Save4College program, VLP would like to contribute $25 annually. Doing so will make all those accounts eligible for the State Contribution.
Additionally, VLP has established a college scholarship program for our graduating LINK Leaders to support their continuing education.
Questions? Please contact Lina Hargadon, Director of Development, at firstname.lastname@example.org or call 410-235-2210, ext. 204.