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Entergy announces child savings account program in Louisiana

college students
Posted at 10:32 AM, Mar 01, 2023
and last updated 2023-03-01 11:32:07-05

BATON ROUGE, La. — Entergy Louisiana and Entergy New Orleans announced a new child savings account program, Kids to College, in conjunction with the companies' dedication to developing healthy communities by means of greater access to education and workforce opportunities, according to Brandon Scardigli, Communications Manager.

Both companies will pledge $175,000 to help low- and moderate-income Louisiana families establish child savings accounts. Eligible families can sign up for a Kids to College account to receive a $50 match from Entergy, officials say.

“Education is the cornerstone for a successful Louisiana,” said Phillip May, president and CEO, Entergy Louisiana. “With these funds not only are we ensuring the next generation is set up for success, but we’re also helping deliver a brighter future for the communities in which we all live and serve. I’m so proud and humbled to play a small part in that success.”

A Child Savings Account (CSA), according to Entergy, is a savings account designed specifically for postsecondary education. These savings accounts allow families to put money away to start saving for their children to attend a two- or four-year college, trade school or technical school.

“Everyone deserves the opportunity to continue their education and we want to partner with families to help make those dreams a reality," said Deanna Rodriguez, president and CEO, Entergy New Orleans. “This will give so many a step forward on a path that they otherwise may not receive. Investing now in our future is how we lift up our communities for future success.”

Families may sign up for a Kids to College account for each child under age 16.

Other eligibility requirements to qualify for Entergy’s $50 match include:
* Must be an Entergy customer.
* Families must meet income thresholds of either single parent or guardians
with up to $52,000 annual income or dual earner households with $60,000 annual income.
* The child savings account must reach a $50 balance to receive the matching funds.

Entergy is powering Kids to College by providing matching funds for CSAs across the four-state service area. The program is made possible thanks to an endowment fund created in honor of Entergy’s late Chairman and CEO J. Wayne Leonard.

Eligible individuals can sign up for an account through the Kids to College portal [].