Frequently Asked Questions

UK Invests is now available to all UK students.

In year 1, the university will invest approximately $1 million in this initiative through private and philanthropic support. We believe this idea will garner a great deal of interest from donors, who know the importance of investing and saving as part of the trajectory of our students in leading lives of meaning and purpose.

UK’s rolling tuition average over the last several four years is now below 2 percent annually (1.6%); a decade ago, tuition and fee increases were averaging nearly six percent. Additionally, the institution has nearly tripled the amount of financial aid to students – scholarships and grants that don’t have to be re-paid – from $57m to $162m this academic year. UK Invests – the investment accounts and financial education efforts included – represents a third step, or next step, in these efforts.

We are addressing access. We are addressing affordability. Now, we are expanding on what we do to ensure students are prepared both educationally and financially when they leave UK.

We are ready to support you. Please email ukinvests@uky.edu with questions.

We have structured UK Invests so that it likely will not impact a student's financial aid package. However, each person's financial aid situation varies. If you have questions or concerns, we suggest you reach out to UK's Office of Financial Aid and Scholarships for a more specific analysis of your situation and the impact of incentives and awards through UK Invests.

International students with a Social Security Number can apply for a UK Invests account. For specific questions about eligibility, please contact us at ukinvests@uky.edu.

Check out this Fidelity Bloom® app how to guide.

Fidelity Bloom® is an easy-to-use app that provides financial rewards for learning how to save and invest¹, helping you make better money decisions now and after graduation.

An existing Fidelity Investments customer can open a Fidelity Bloom® for UK Invests account and will be affiliated by using the UK Invests QR code. When you log into Fidelity.com you will see all your accounts with Fidelity.

Please call 1-800-FIDELITY to speak directly with an associate. Please indicate you are part of the UK Invests program so the associate can route your call to the right support person.

In some cases, extra steps will be necessary to verify your identity before you can open your Fidelity Bloom^® account. You may see a message in the app or receive an email asking you to upload additional documents. If you see this message or receive the email, you will need to upload a photo of your Social Security Card and your U.S. government-issued ID (this could be a driver’s license or a passport).

If you have other Fidelity accounts and want to open a Fidelity Bloom® account, you will first need to reset your password to access your account(s) through Fidelity.com. To reset a password you will need to follow the following steps:

• You'll need to verify your identity:
  • When asked to request a security code, select the phone number where you want the code sent
  • When you get it, be sure to enter the actual 6-digit security code in the field and not the number the code comes from
• If you're asked a security question, answer it and then you'll be prompted to create a new password:
  • If you answer incorrectly, Fidelity will block access to your account until we can verify no one else is trying to access it
  • To unblock your account, please call a customer service representative at 800-343-3548
• Once your account is unblocked you can open your Fidelity Bloom account using your university QR code.

Getting started with Fidelity Bloom^® is simple. First, set up your account by visiting this link on your mobile device. Once you link your bank account, add money to your Save and Spend accounts using a one- time transfer or set up recurring transfers to regularly add money to your account. After your accounts are funded, you can begin investing or take Lessons to learn more.

A brokerage account allows for trading of stocks, bonds, exchange-traded funds (ETFs) and mutual funds,  and gives you access to Fidelity's tools and research.

By using brokerage accounts, we’re able to place your uninvested cash in low-risk money market mutual fund⁴ which have historically outperformed traditional savings accounts. Money market mutual funds are considered conservative and easy to access.

Cash in both your Save and Spend accounts have the potential to earn yield, which is a cash payout of interest earned that is added to your accounts on a monthly basis.

• After you add money to your save account, tap the save account tile on the home tab. 
• Tap the investments tile.
• Browse mutual fund collections, or learn more through lessons and tools.
• There are other investment options available through Fidelity.com

Fidelity Bloom is an app to access two brokerage accounts. To open an account within the app, you need to be at least 18 years old. You also need to have a social security number to complete the digital account open process.

You can earn deposits into your Fidelity Bloom® for UK Invests account by completing assignments outlined in your Canvas modules. The dollar amount for each assignment is listed with the assignment. Once you have the minimum of $50 of incentive dollars deposited in your account, Fidelity Investments will take about 17 days to process your $100 bonus deposit.

To open your Fidelity Bloom® account, you will need the following:

• Your social security number
• A personal email address that you commonly use (Fidelity recommends you do not use your school email address)

In some cases, you may also need a U.S. government-issued ID, such as a driver’s license or passport. These are needed to help protect you against fraud. They’re commonly used when opening any type of financial account to verify your identity and keep you safe.

Fidelity Bloom® for UK Invests offers automated cash rewards to help you build long-lasting habits. To get started, you get $100 when you open an account and deposit $50 ². You must maintain a balance of at least $50 to receive the Fidelity bonus. Fidelity Bloom® also offers a 10% Savings match on up to $300 ³.

You earn contributions to your account by completing assignments outlined in your UK Invests Canvas modules. The dollar amount for each assignment is listed with the assignment. If you have any questions, send a message via Canvas.

You may notice items labeled UK Invests on your account transactions page. You are not being charged by UK for those UK Invests items. Those items are simply a reflection of your UK Invests deposits passing through to your Fidelity Bloom^® account.

UK processes payments every other Friday. Keep in mind — it takes a few business days after the payment is processed for the money to show up in your account.

UK Invests is exclusively partnered with Fidelity Investments. Any money earned by participating in UK Invests is deposited into your Fidelity Bloom® for UK Invests account. You may consult directly with Fidelity Investments and your other financial institution to review options for transferring money between accounts.

A Fidelity Bloom® Save account is required to receive program rewards. ​

• To receive the current in-market reward (i.e., $25), students must complete all lessons in the module:​
  • The module covers 3 categories: saving, spending, and investing. ​
  • There are 7 lessons in each category, with a total of 21 lessons and 3 tests. ​
• Students must acknowledge and claim the reward at the completion of the 3 modules to receive the reward deposit.​
  • Students must claim their reward prior to the posted reward end date (i.e., Dec. 31).​
  • Once a student claims the reward, the student’s eligible Bloom Save account will be funded within 2-6 calendar days (depending on time of claim, holidays, and weekends).​
• Rewards can only be claimed one time per offer. Students may retake the modules, but no additional rewards will be issued.​

Your Fidelity Bloom® for UK Invests account and any money deposited in it is yours. When you leave, it remains yours. The university does not retain any of the dollars in your account.

Depending on the amount of dollars you earn by completing incentives, you may have to pay taxes. And if you take money out of your account, it will be taxable.

• Please contact your university for more information on their incentive payment schedule.
• University incentives or athletic distributions, if available, count as qualifying deposits for Bloom in-market offers.

• $5 account open bonus
  • Fidelity Bloom® offers a limited-time, in-market offer on account opening equaling $5 (i.e. $5 is deposited into the Fidelity Bloom Save account within 24-hours of account opening. This does not count toward the initial deposit of $50 to receive a $100 cash reward. Limited time offer). To receive the account open bonus, the following must occur:
    • You register for the offer by opening the Fidelity Bloom account
• $100 cash award
  • Fidelity Bloom® offers a limited-time, in-market offer on initial deposit(s) equaling $50 (i.e. $100 after you deposit $50 or more, limited time offer). To receive the cash award, the following must occur:
    • You register for the offer by opening open both Fidelity Bloom Spend and Fidelity Bloom Save accounts through the Fidelity Bloom mobile app unique to your college or university.
    • Once you make an initial deposit, in any amount, you have 7 calendar days from then for the net deposits in the account to reach at least $50.
      • Net deposits mean total external deposits or transfers minus any assets withdrawn or transferred out of the accounts within the qualification period.
  • Fidelity will deposit $100 into your Fidelity Bloom Save account within 10 calendar days after you meet the eligibility requirements.
  • For more information, please refer to the Fidelity Bloom rewards section of the Fidelity Bloom FAQs.
• Savings Match
  • Fidelity Bloom® offers a limited-time, introductory match (i.e. 10% on up to $300, max of $30) in eligible deposits made to your Fidelity Bloom Save account.
  • This is a rolling reward so you may see multiple matches, up to $30, if you don’t deposit $300 all at once.
  • Match rewards are deposited to your Fidelity Bloom Save account. They are based on eligible deposits into your Fidelity Bloom Save account in a calendar year and reset annually.
  • For more information, please refer to the Fidelity Bloom rewards section of the Fidelity Bloom FAQs.