A new program called “Kids to College” has been launched by Entergy Arkansas to help families save money for their children’s future education. The program offers a my529 child savings account that matches up to $100,000 for eligible customers.
A my529 account is a tax-advantaged investment plan that can be used for qualified education expenses. According to a WUSTL study, having a college savings account increases the chances of a child going to and graduating from college, even if the amount saved is less than $500. The study found that a child with some 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 the future of Arkansas,” said Laura Landreaux, Entergy Arkansas’ president and CEO.
“We’ve been a leader in helping advance education and workforce development in the state for decades and are excited to be extending that legacy by launching this program for all of Entergy here in Arkansas. It will help ensure our children have an equal chance at achieving their dreams.”
Entergy Arkansas has partnered with the Arkansas Community Action Agencies Association to launch a new program that will help families plan and save for their children’s higher education. The program, called Kids to College, will offer a my529 child savings account to up to 2,000 families with low or moderate income and will contribute $50 to the account.
“We are excited to work with Entergy Arkansas for the Kids to College Program. We hope this program will encourage youth to pursue their educational goals and learn about financial literacy,” said Tomekia Moore, the interim executive director of the Arkansas Community Action Agencies Association.
A my529 account is a tax-advantaged investment plan that can be used for various education expenses, such as tuition, books, computer technology, room and board, and other related fees. These accounts allow families to save money for their children’s future education, whether it is a two- or four-year college, trade school or technical school.
Families can enroll each child under 16 in the household in a Kids to College my529 account. To be eligible for the Kids to College match, families must meet the following criteria:
They must be Entergy customers. They must have an annual income of $60,000 or less for single-earner households and $80,000 or less for dual-earner households. A my529 account is a tax-advantaged investment plan that can be used for qualified education expenses. According to a WUSTL study, having a college savings account increases the chances of a child going to and graduating from college, even if the amount saved is less than $500. The study found that a child with some 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 the future of Arkansas,” said Laura Landreaux, Entergy Arkansas’ president and CEO.
“We’ve been a leader in helping advance education and workforce development in the state for decades and are excited to be extending that legacy by launching this program for all of Entergy here in Arkansas. It will help ensure our children have an equal chance at achieving their dreams.”
Entergy Arkansas has partnered with the Arkansas Community Action Agencies Association to launch a new program that will help families plan and save for their children’s higher education. The program, called Kids to College, will offer a my529 child savings account to up to 2,000 families with low or moderate income and will contribute $50 to the account.
“We are excited to work with Entergy Arkansas for the Kids to College Program. We hope this program will encourage youth to pursue their educational goals and learn about financial literacy,” said Tomekia Moore, the interim executive director of the Arkansas Community Action Agencies Association.
A my529 account is a tax-advantaged investment plan that can be used for various education expenses, such as tuition, books, computer technology, room and board, and other related fees. These accounts allow families to save money for their children’s future education, whether it is a two- or four-year college, trade school or technical school.
Families can enroll each child under 16 in the household in a Kids to College my529 account. To be eligible for the Kids to College match, families must meet the following criteria:
Entergy is funding Kids to College by providing matching funds for 8,000 child savings accounts across their four-state service area. The program is made possible by an endowment fund created in honor of J. Wayne Leonard, Entergy’s former Chairman and CEO who passed away
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Eligible individuals can also sign up for an account through the Kids to College portal by clicking here.
To know more click here.
Eligible individuals can also sign up for an account through the Kids to College portal by clicking here.