Updated Requirements for 2020
To qualify for the 529 College Savings Incentive for 2020 members must:
1. Attend 1 club meeting (this includes a book pick-up or book signing type meeting).
2. Must complete all projects enrolled in as of June 15th.
3. Volunteer in some capacity before, during or after the fair.
The incentive will be given at the silver level for all grades. Grades 3-6 - $30 Grades 7-12- $45
A note from the 4-H Council….
We recognize there are many members who spend countless hours working on their projects and participating in 4-H activities each year, who will take home no more than a ribbon from the fair. We value their hard work, and new this year, have developed an incentive program to reward all 4-H members’ efforts.
The 4-H Council has established this program to provide financial incentives for project completion and involvement. The file below explains the incentives that are available this year, based upon grade level.
The 4-H program has always strived to provide our members opportunities to be college and career ready after high school. In that spirit, these incentives will be in the form of contributions to a 529 college savings account. These tax-advantageous accounts are a great tool for families to save for college...which can include trade schools, community college, and 4-year schools.
Our incentives are a compliment to the Benton Community Promise that helped open 529 college savings accounts for over 400 local Kindergarten-3rd Grade students this past fall. The total investment between families and community dollars was $58,185 in just three short months!
We know that the mere existence of an account, regardless of balance, greatly increases the hope of the child and is a large predictor of their college success. Think of this program as a 4-H scholarship that could add up to nearly $500 during a member’s 4-H career!
The code must be submitted online at http://bit.ly/2lWXxHj to qualify for the incentive.
COMPLETION INCENTIVE
Once a 4-H member has provided their Ugift number to the 4-H Council, they are eligible for the completion incentives found in the file below. These are based upon the 4-H program year of October 1-September 30.
The completion incentive will be distributed into the 529 account by October 31, following the most recently completed 4-H year. These awards are not cumulative. A member may qualify for a single level, based upon their level of involvement.
Incentives will be based upon tracking by club leaders, food stand chairpersons, and online tracking of 4-H activities.
STEP BY STEP GUIDE FOR FAMILIES….
Open each 4-H member a 529 college savings account at www.collegechoicedirect.com or through a financial advisor.
It only takes approximately 10 minutes to open the account online. You will need to have available...
- Account owner’s birthdate and social security number (owner is typically a parent or guardian)
- Account beneficiary’s birthdate and social security number (beneficiary is the 4-H member)
- Bank routing and account number for the required initial $10 deposit.
Submit the Ugift* code for each member’s account to the 4-H Council by June 15th to qualify for the $10 enrollment incentive. May be submitted online at http://bit.ly/2lWXxHj. Enrollment incentives will be deposited directly into 529 accounts by June 30th.
*For your security, please do not submit your child’s actual account number. The Ugift code can be found under the “View and Invite Savings with Ugift” heading in the left sidebar of your account’s online portal.
Review the list of Completion Incentives (found in the file below) with your member and help them set a goal for which level they wish to achieve.
Get to work on those 4-H projects and take full advantage of all the program has to offer! Your time in the 4-H Food Stand during the fair covers the cost of 4-H manuals and diminshes the need for a county membership fee.
Watch your college savings grow! Those who earn a completion incentive will automatically see that money deposited into their 529 College Savings account by the end of October.
Have questions or need assistance?
Contact the Extension Office at 765.884.0140
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