State Treasurer Denise L. Nappier announced the launch of the second phase of CHET Advance Scholarship, an annual program designed to help Connecticut families meet the mounting costs of higher education. In 2014, the program will provide grants to high school juniors and sixth-grade students across Connecticut.
CHET Advance Scholarship will hold random drawings in the spring to provide up to 200 Connecticut students – up to 100 in each of the two grade levels - with a scholarship for college expenses. Applications to participate in the drawings will be accepted online at www.chetadvance.combeginning at 9 a.m. on March 18 and ending at 5 p.m. on April 30, 2014.
“With the rising costs of college education outpacing families’ efforts to save, it is essential that we provide assistance and raise awareness of the savings options that can help,” said Treasurer Nappier, Trustee of the Connecticut Higher Education Trust (CHET). “College should be an attainable and affordable dream for everyone. Our students are the future economic engine of our state and CHET Advance will help them on their way to a productive career.”
Up to 100 high school juniors with a GPA of at least 2.0 will be eligible for a $2,500 scholarship. In addition, up to 100 sixth graders will be awarded an initial $2,000 scholarship, with the opportunity to receive an additional $500 if the student’s family saves $500 in a CHET account by the time the student goes to college.
No state funds will be used for the scholarship awards issued under the CHET Advance Scholarship program. CHET Advance is administered under the banner of the Connecticut Higher Education Trust, Connecticut’s 529 college savings plan. As Trustee of CHET, Treasurer Nappier negotiated for the establishment of the scholarship program.
Altogether, CHET Advance Scholarship has funding commitments to distribute a total of more than $2 million to Connecticut students through 2017.
To ensure the impartiality of the random drawings, International Scholarship and Tuition Services will set up and run the selection process, with oversight from TIAA-CREF, plan manager for CHET Direct-Sold.
For additional information, an application, and the complete Official Rules, visit the CHET Advance Scholarship website, www.chetadvance.com.