How It Works: College Savings Account
How it works
Step 1: Determine your eligibility, part I: Did your child attend a Home Run-certified high-quality preschool during the 2017 – 2018 school year? Click the link below for a list.
If yes, continue to Step Two. If no, your child is ineligible. Not sure? Contact Home Run staff at [email protected].
Step 2: Determine your eligibility, part II: Is your child enrolled in a Washington Unified School District kindergarten for the 2018 – 2019 school year?
If yes, continue to Step Three. If no, your child is ineligible. Not sure? Contact Washington Unified School District Administrator of Communication and Community Outreach Giorgos Kazanis at (916) 375-7600 or [email protected].
Step 3: Determine your eligibility for the optional ScholarShare 529 Matching Grant Program The ScholarShare529 Matching Grant Program currently offers up to $225 in matching dollars for eligible families who open and contribute to a new ScholarShare529 account by December 31, 2019. Click here to learn more about the matching grant program or to apply for the matching grant.
- If you are eligible for the matching grant program, you will be directed to complete step four after you’ve completed your matching grant program application
- If you are ineligible for the matching grant program, continue to Step Four
Step 4: Create a ScholarShare529 account. Click here to open your ScholarShare 529 college savings account. This should take 10-15 minutes. You will need the information listed here to open your ScholarShare529 account.
When creating your account you will be prompted to make a minimum contribution of $25. If you are not ready to make this contribution yet, you can still create an account. Click on the $25 button (or specify another amount), and on the next page click the “Pay by check” button. This will allow you to proceed through the rest of the account setup without making a deposit. Please note: You must contribute to the account by December 31, 2019 to be eligible for up to $225 in matching funds from ScholarShare529.
For more information about ScholarShare529, or for assistance in opening your account, visit www.scholarshare529.com or contact a customer service representative at (800) 544-5248.
Step Five: Complete and submit additional information once your account has been created:
- Complete the ScholarShare 529 Authorization to Receive or View Account Information form. You only need to complete Part 1, “Account Information,” and sign and date Part 6, “Signature of Participant.”
- Submit this form to your child’s elementary school. The City of West Sacramento needs this information in order to confirm that you have created your ScholarShare529 account and to link the matching funds, provided by the City of West Sacramento and ScholarShare529, to your account.
Please note that you will not be able to withdraw the city’s contributions from your child’s account until you request a withdrawal for qualified higher education expenses. Requests can be made to the City of West Sacramento [email protected]