The First Step Program is a free jump-start college saving program for every Colorado newborn. Through First Step, any child born or adopted on or after January 1, 2020 in Colorado is eligible to receive a free $121 contribution to a Scholars Choice Education Savings Plan account.
2 simple steps:
- With the help of your financial professional, open a Scholars Choice account at scholars-choice.com. Your savings and earnings grow tax free if the funds are used for qualified expenses.1
- Contributions you make to your account are eligible for a Colorado income tax deduction for Colorado taxpayers.2
- Savings can be used anywhere in the country, at almost any college, university, community college, trade school or vocational program.
- Apply for the First Step Program online at collegeinvest.org/first-step/. You will need the child’s account number and their birth certificate state file number. If you and the Beneficiary meet all the eligibility requirements, you will be notified by email from CollegeInvest and the $121 contribution will be deposited in your Scholars Choice account within 30 business days.
What’s more, for parents and legal Guardians who enroll by December 31, 2026, CollegeInvest will match your future contributions up to $1,500! If the Account Owner is the parent or legal Guardian, once you receive the $121 from First Step, CollegeInvest will match your future contributions dollar-for-dollar, up to $500 per year for the next 3 years!*
For more information about the Terms & Conditions, go to collegeinvest.org/first-step.
