Imagine Early transforms everyday schoolwork and extra-curricular involvement into opportunities — empowering students from birth through 12th grade to imagine their future early and earn up to $3,000 in Imagine Early scholarships for their education after high school.
By enrolling your child in Imagine Early, you express belief in their future and encourage them to dream big. You connect their daily efforts with future opportunities through meaningful conversations and support.
Please keep in touch. If we don’t have contact information for you, we can’t share your student’s Fund balance or inform you of important program news. Remember to tell us when you have a change in address, phone number, or email address.
Your child may earn scholarships for completing regular in-school assignments (grades 4–8) and for participating in extra-curricular activities (grades 9–12).
Your student can earn nearly all of these scholarships on their own by completing their in-school work at 70% proficiency and getting involved in extra-curricular activities. Here’s how you, as the parent, can add to their Imagine Early Scholarship Fund:
Held by the Community Foundation, this is where your child’s earned scholarships are deposited each quarter as they complete their in-school work. The fund is invested in an age-based portfolio and hopefully grows over time.
Indiana’s tax-advantaged 529 savings plan. Money grows and can be withdrawn tax-free for qualified higher-education expenses. As you make deposits, you earn savings matches for your child’s Imagine Early Scholarship Fund.
In every semester that you deposit at least $20 into your student’s Indiana529 Direct savings account, the Community Foundation will deposit a $20 savings match into your child’s Imagine Early Scholarship Fund. Tell the Community Foundation when you have saved by sending deposit activity to imagine-early@cfwabash.org by the last day of the semester.
Scholarships awarded in the senior year of high school have a limited ability to influence a 4th grader’s identity and to incentivize learning. As evidenced by Children’s Savings Account programs around the country, assets change the way children and parents think about the future and serve as a tangible commitment to and belief in the potential to pursue education after high school.
Like traditional scholarships, Imagine Early scholarships can pay qualified educational expenses: tuition, fees, and books.
Upon acceptance and enrollment at a qualified post-secondary educational institution, a student may submit an official tuition statement to the Community Foundation. The student’s scholarships are paid directly to the institution. Imagine Early scholarship money can only be granted to institutions that accept federal student aid. A list of these qualifying schools is available at CollegeScorecard.ed.gov.
Scholarships remain in students’ funds until age 22, when the monies are returned to the general Imagine Early Scholarship fund to be earned by other students.
Preliminary research conducted by the University of Michigan shows that Wabash County students who participate in Imagine Early scholarships have higher state standardized test scores, stronger college-bound identity, improved social-emotional health, and a pattern of saving more money, and saving more often. Research on the program continues.
Indiana529 is Indiana’s tax-advantaged 529 savings plan designed to help people easily and affordably save for college. The money grows tax free and can be withdrawn tax free, provided it is used for qualified higher education expenses (tuition, fees, and other qualified costs — see Indiana529Direct.com/home/frequently-asked-questions for the full list).
A student’s parent or guardian may enroll them as account owner, with the student as beneficiary; the enrollment form requires a date of birth and Social Security Number for both. Once opened, anyone with the account number or a six-digit Ugift code may make deposits — log in at Indiana529Direct.com to transfer funds electronically (one-time or recurring), request a Ugift code, or set up a distribution. There is no credit card option; to pay by check, make it out to “Indiana529 Direct Savings Plan,” PO Box 219418, Kansas City, MO 64121, noting the student’s name and account number.
Indiana offers a 20% state tax credit on contributions, up to $1,500 per year ($750 if married filing separately) Using the money for non-qualified expenses carries a 10% withdrawal penalty plus income tax on the earnings. For help, call an Indiana529 agent at 1-866-485-9415, Monday–Friday, 8 AM–8 PM EST.