Montana State University

New MSU program designed to help students with limited income save for college

February 8, 2013 -- MSU News Service

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MSU News Service
Tel: (406) 994-4571
msunews@montana.edu

A new Montana State University program is available to help MSU and Gallatin College MSU students with limited income save money for college expenses.

The Matched Education Savings Account program, or MESA, is designed to help students pay for college and increase financial literacy. For every dollar a Montana State University student in the MESA program saves, it will be matched with $3. For every dollar a Gallatin College MSU MESA student saves, it will be matched with $4. MSU students who save up to $500 will be eligible for the maximum match of $1,500; Gallatin College MSU students will be eligible for a maximum match of $2,000.

Students may be eligible for the program if they are a member of a household with annual income under a certain level; have earned income; are a Montana student enrolled full-time at MSU or Gallatin College MSU; and do not have household net worth exceeding $10,000.

Participants will be asked to make monthly savings deposits of at least $25 for six months; participate in personal finance and money management training and post-secondary planning; and maintain regular contact with program representatives.

Funding for the program is provided by MSU, the U.S. Department of Health and Human Services' Assets for Independence program, and local credit unions.

Applications are available at http://www.montana.edu/wwwfa/mesa.html. Applications may also be picked up in the MSU Financial Aid Office, located in room 183 of the SUB.

Contact: Bernie Warwood, (406) 994-2845 or bwarwood@montana.edu