LAUNCH College & Career Savings Program
How does it work?
Participants are matched with a coach who supports the student in attaining savings goals, learning personal finance skills and helps them plan for, enroll in and persist in college through their time in the program. Participants receive an $8 match for every dollar of earned income they save toward postsecondary education up to $500, for a potential total of $4,500. Funds can be used for tuition, fees, books, and supplies at an accredited educational institution or trade school.
Participants may also make contributions to a “bonus account” for which they receive a one-dollar match for every dollar saved up to $500, for a potential total of $1,000. The bonus account can be used for school-related expenses or non-school-related expenses such as housing, transportation, and medical expenses.
Participants may accrue up to $5,500 and through the coaching support they receive are able to leverage thousands more in grants and scholarships—making postsecondary education a possibility where it might otherwise not be. Many LAUNCH participants are the first in their family to go to college.
What role does United Way play?
The initiative is made possible by a federal Assets for Independence grant through the U.S. Department of Health and Human Services, as well as contributions to the annual United Way campaign.
Contact: Katie Barber, Special Projects Coordinator | email@example.com