Greenwich student receives CHET Advance Scholarship

Ninth grader Emil Perdue of Greenwich was a recipient of a CHET Advance Scholarship.

Perdue was among 200 student winners, their families and teachers who attended a program to recognize 100 high school freshmen and 100 high school seniors from across Connecticut as recipients of the 2016 CHET Advance Scholarship.

State Treasurer Denise L. Nappier, Trustee of the Connecticut Higher Education Trust (“CHET”), told the students, “If you work hard, show persistence and have a belief in yourself, even though your path may be unpredictable, your goal is achievable.”

2016 is the fourth year of the CHET Advance Scholarship program, which awards $2,500 scholarships to high school seniors and initial $2,000 scholarships to freshmen. The freshmen have the opportunity to receive an additional $500 if the student’s family saves $500 in a CHET account by the time the student goes to college.

“I am proud to say that with the inclusion of this year’s winners, the CHET Advance Scholarship program has been able to help 800 Connecticut students and their families reduce the financial burden of a college education,” Treasurer Nappier said. “The process of researching, applying for and deciding what college to go to is incredibly stressful for students and families. If we are able to help lower that stress level by a small amount or help fill the cost gap, then that’s a win in my book.”

At the Legislative Office Building, students and their parents spoke to members of the State Treasurer’s Office about how much the scholarships will help with college expenses.  

The winners, who were randomly selected from a pool of more than 2,500 applicants, hail from 93 high schools. Almost half the towns in Connecticut have at least one winner and all five congressional districts are represented among the winners. Of the winners, 127 are young women and 73 are young men.

CHET Advance Scholarship is administered by the Connecticut Higher Education Trust, Connecticut’s 529 college savings plan.  As Trustee of CHET, Treasurer Nappier negotiated for the establishment of the scholarship program.  TIAA-CREF Tuition Financing, Inc. and The Hartford, plan managers for CHET Direct-Sold and CHET Advisor-Sold, respectively, contribute annually into a scholarship account to finance the scholarship program, under their contracts with the Treasurer’s Office to manage CHET 529.  No state funds are used for awards issued under CHET Advance Scholarship.

To ensure the impartiality of the random drawings, International Scholarship and Tuition Services, which has more than 25 years of scholarship administration experience, set up and ran the selection process with oversight from TIAA.

About CHET

The Connecticut Higher Education Trust (CHET) was established in 1997. Today the number of CHET 529 college savings accounts stands at more than 130,000 and total assets are more than $ 2.8 billion in CHET Direct and CHET Advisor.  Approximately $1.3 billion in qualified withdrawals have been taken to cover college costs for approximately 38,260 students.  For more information about CHET, visit aboutchet.com or call the customer service center at 866-314-3939. Find CHET on Facebook (facebook.com/CHETcollegesavings) or Twitter (@CHET529).

Emil Perdue receives a CHET Advance Scholarship.

Emil Perdue receives a CHET Advance Scholarship.

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