Students at two private Northwest colleges are the first to participate in a new scholarship program that rewards saving for college.
Independent Colleges of Washington launched the Matched College Savings Program this year with 14 students – seven at Pacific Lutheran University and seven at Seattle Pacific University.
The program targets very low income students whose family incomes are at or below 200 percent of the federal poverty level. Eligible students receive $5 from the program for every $1 they save to spend on books, tuition and other college expenses.
In the next academic year, the program hopes to expand to more colleges using federal funds and private donations.
Independent Colleges of Washington includes includes three South Sound universities: University of Puget Sound in Tacoma, Pacific Lutheran University in Parkland and Saint Martin’s University in Lacey.