Entergy Arkansas Pledges $100,000 for college savings account program
LITTLE ROCK, Ark. (KAIT/Edited News Release) - Entergy Arkansas is launching a new program to help families plan and save for their children’s higher education.
Kids to College is a my529 child savings account program. Families can enroll each child under 16 in the household in a Kids to College account.
Entergy pledged to match up to $100,000 for families who are customers, save at least $50 per account, and have an annual income below $52,000 or $60,000 for dual-earner households.
Entergy officials said even with savings of less than $500, a child is 25% more likely to enroll in college and 64% more likely to graduate than a child with no savings, according to a study from the Center for Social Development at Washington University in St. Louis.
“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.”
In partnership with the Arkansas Community Action Agencies Association, Entergy representatives said the company will help up to 2,000 low and moderate-income Arkansas families establish a child savings account and provide a $50 match.
Accounts can be opened with less than $50 initially.
Eligible individuals can also sign up for an account through the Kids to College portal.
Copyright 2023 KAIT. All rights reserved.