Entergy Arkansas is launching “Kids to College,” a my529 child savings account program designed to assist families in planning and saving for their children’s higher education, with a match of up to $100,000 for qualified consumers.
According to research, opening a college savings account boosts students’ chances of attending college, regardless of contribution amount or household income level. According to a study conducted by the Center for Social Development at Washington University in St. Louis (WUSTL), a child with less than $500 in savings is 25% more likely to enroll in college and 64% more likely to graduate than a child with no savings.
“Kids to College is an investment in the future of our young people and Arkansas,” said Laura Landreaux, president and CEO of Entergy Arkansas. “For decades, we’ve been a leader in advancing education and workforce development in the state, and we’re thrilled to be extending that legacy by launching this program for all of Entergy here in Arkansas.” It will assist ensure that our youngsters have an equitable opportunity to achieve their goals.”
Powered by Entergy and in collaboration with the Arkansas Community Action Agencies Association, the corporation will assist up to 2,000 low- and moderate-income Arkansas families in opening a child savings account, as well as provide a $50 deposit.
Entergy Arkansas
“The Arkansas Community Action Agencies Association has had a longstanding relationship with Entergy Arkansas,” said Tomekia Moore, interim executive director of the Arkansas Community Action Agencies Association. “We are thrilled to be collaborating with them on the Kids to College Program.” As a result of this most recent attempt, we hope to promote youth financial awareness and education.”
A college savings account is specifically designed for postsecondary education costs such as tuition, books, computer technology, housing & board, and other related fees. These accounts enable families – including parents, grandparents, aunts, uncles, and others – to begin saving for their children’s attendance at a two- or four-year college, trade school, or technical school.
Families can open a Kids to College my529 account for each child under the age of 16. Participants in the Kids to College match must meet the following eligibility requirements:
Entergy is a customer of the family.
The family’s annual income is $60,000 or less for single-earner households and $80,000 for dual-earner households.
Entergy is empowering kids to go to college by contributing matching funds to 8,000 child savings accounts across their four-state service area. The initiative is funded by an endowment fund established in memory of Entergy’s late Chairman and CEO, J. Wayne Leonard.
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