Investment Study Can Help Students Save for Education, a House or Starting a Business

March 4, 2013 -- CNM students can apply to participate in a study called the “Suncat Savings Challenge” that will allow many students to invest in a matched savings account. For every dollar a qualifying student puts into the account, public and private institutions will match the dollar with four dollars.
July 16, 2015

The limit for how much a student could put into the account would be $1,000, which could be matched with $4,000 for a maximum account of $5,000. The accounts are called “Individual Development Accounts,” or IDAs, and were created to help low-income households gain greater financial security.

Since this is a scientific study, only half of the students chosen to participate in the study will be provided access to a matched savings account. The other half will be asked to participate in a survey and they will receive a token of appreciation.

Students interested in applying for the study must attend a Suncat Savings Challenge orientation that will be held on Friday, March 8, at 1 p.m. in Smith Brasher Hall, Room 106. Attendance is limited to 50 students.

Those selected to receive an IDA will be chosen randomly among the students who meet the eligibility requirements, which include income and asset limits. For more information, including eligibility requirements and registration information for Friday's orientation session, click here.

There will also be more opportunities for students to participate in this study in future terms.