LITTLE ROCK, Ark. – A program from Entergy Arkansas will help families plan and save for higher education goals.
The Kids to College initiative is a my529 savings account program. Entergy has pledged to match up to $100,000 for qualified customers. A my529 savings account is an Arkansas tax-deductible investment savings plan for a child’s future education.
Entergy is fund-matching for families who are a customer, save $50 per account and have an annual income below $52,000 or $60,000 for dual-earner households.
In partnership with the Arkansas Community Action Agencies Association, Entergy representatives said it would help up to 2,000 low and moderate-income Arkansas families establish a child savings account and provide a $50 match. Officials said accounts could be opened with less than $50 initially.
Entergy Arkansas president and CEO Laura Landreaux spoke about the true investment of Kids to College.
“Kids to College is an investment in the future of our young people and the future of Arkansas,” Landreauxsaid. “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 officials said the research shows a college savings account improves college-going rates for students, regardless of household income or savings level. Even with less than $500 in savings, a child is 25% more likely to enroll and 64% more likely to graduate, according to a Center for Social Development study at Washington University in St. Louis.
More information is available at the Entergy Kids to College website, local community action agencies or by emailing ARKids2College@acaaa.org. Eligible individuals can also sign up for an account through the Arkansas Brighter Future 529 portal.