College Grant Program To help Military Families

State Treasurer Kate Marshall today announced that her office has joined with USAA to expand the ability of Nevada military families to save for college through the USAA 529 College Savings Plan. USAA 529 College Savings Plan program helps by providing up to $1,500 in college savings matching grant funding to any Nevada active duty military member with a household Adjusted Gross Income (AGI) of less than $75,000 a year.
The USAA Distinguished Valor Matching Grant, first introduced by Marshall in January 2011, was originally for families of recent Purple Heart recipients living in Nevada. The program is now also available to all Active Military, Active Reservists, and Nevada National Guard members who meet the eligibility requirements.
“USAA continues to be a great partner in our lineup of college savings plans offered through the Nevada State Treasurer's Office,” Marshall said. “I am extremely grateful for their continuing efforts to make the dream of a college education more affordable for the families of Nevada's military members.”
“The rising cost of education can have a significant impact on a family's ability to save for the future,” said Dan McNamara, president of USAA Investments. “We are pleased to work with the state of Nevada to provide military members with the opportunity to save for one of the most significant costs they will face – the cost of higher education,” McNamara said.
The program is currently only available to Nevada residents who open a USAA 529 College Savings Plan account. Eligible participants can earn up to $300 per year in matching grant funding, with a lifetime maximum benefit of $1,500. There are two levels of eligibility:

Category A- Active Duty Military
  • Includes Active Military, Active Reservists, and Nevada National Guard members with a household AGI of less than $75,000.
  • Available for the children of Active Duty Members who are under the age of 13.

 Category B- Purple Heart Recipients (Wounded Warriors & Fallen Soldiers)
  • Recipient of a Purple Heart in either Operation Enduring Freedom or Iraqi Freedom (service beginning October 7, 2001 and ending August 31, 2010).
  • The designated beneficiary must be a child or the spouse of the Purple Heart Recipient.
Additional USAA Distinguished Valor Matching Grant Program benefits include:
  • The Minimum Balance Fee ($15) and the State Maintenance Fee ($15) are waived for Nevada residents.
  • The Upromise service program which allows for a percentage of qualified purchases to be returned to a designated 529 College Savings Plan.
Grant applications for 2012 will be accepted through Dec. 15th. To apply or to obtain additional information, visit USAA Distinguished Valor Matching Grant funding is available on a first come, first served basis, with a current funding limitation of $90,000 per year. USAA membership is open to all who are serving or have honorably served our nation in the U.S. military and their families.
The Nevada College Savings Plan program, administered by the Nevada State Treasurer's Office, currently has assets totaling more than $9 billion with over 500,000 account owners. USAA's 529 College Savings Plan is ranked No. 3 in the 1, 3, and 5-year performance categories as of June 30, 2012, by an independently sponsored website dedicated to assisting parents and students with planning for college. For more information about the Nevada College Savings Plans program, go to and click on the College Savings Plan link.
Consider the investment objectives, risks, charges and expenses of the USAA College Savings Plan (Plan) carefully before investing. Call 800-292-8825 to request a Plan Description and Participation Agreement containing this and other information about the Plan. Read it carefully before investing. If you or the beneficiary are not residents of the state of Nevada, consider before investing whether your or the beneficiary's home state offers a 529 plan that provides its taxpayers with state tax and other benefits not available through this Plan. Please consult your tax adviser.
Interests in the USAA College Savings Plan (Plan) are municipal fund securities issued by the Nevada College Savings Trust Fund (Trust). The value of an investment in the Plan will vary with market conditions. The Plan is administered by the Board of Trustees of the College Savings Plans of Nevada (Board), which is chaired by Nevada State Treasurer Kate Marshall. USAA Investment Management Company provides investment management services to the Portfolios, together with its affiliate, USAA Financial Advisors, Inc, markets and provides related services with respect to the Plan. Upromise Investments, Inc. serves as the Program Manager as well as effects participant transactions in the Plan. Interests in the Plan are not guaranteed by the Trust, the Plan, the State of Nevada, the Board or any other governmental entities, or any USAA or Upromise entities and you could lose money.
The quarterly rankings were based on the composite performance score of seven unique asset allocation categories of the 529 plan for the 1-year, 3-year and 5-year periods ending June 30, 2012.

For more details on the ranking methodology, visit


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