Labor Union Blog

Union Privilege’s Jennifer Wright Dorr sends us the latest on a new Union Plus College Savings Grant for working families.

With the economy in a seemingly endless free fall, the rising cost of a college education is putting working families in a bind. However, if you open a new college savings account, your union may be able to help.

The new Union Plus College Savings Grant offers $500 to qualified union members who open a new tax-free “529″ college savings or prepaid tuition plan by June 30, 2009.  You are eligible for the $500 grant if you have had a Union Plus credit card, mortgage or UnionSecure insurance policy for one year and contribute at least $1,000 dollars in the account by Nov. 30, 2009.

Members with previously opened education savings accounts are not eligible to apply for a grant.

The 529 savings plan is one of several savings programs that can help you afford a college education, which is becoming more and more important in our information-fueled economy. (Click here for more information on other programs from Union Plus.)

The 529 plans, operated by each state, encourage people to save for future college costs.  The Union Plus College Savings Grant underscores the importance that unions place on higher education.

The college grant is part of a $3 million initiative introduced this year by Union Plus to assist union members facing financial hardship during the current recession. The program-called Union SAFE, for Security, Assistance and Financial Education-provides a wide array of benefits for qualifying members, from financial counseling to help with hospital payments, job loss protection and help avoiding foreclosure.

For more information or an application for the Union Plus College Savings Grant, click here. And for more information from Union Plus on other ways to help pay for college, click here.