Wasilla 6-year-old wins UA College Savings Plan scholarship account

WASILLA — The UA College Savings Plan announced this week that Peyton Livingston is the 2017 winner of its annual scholarship account giveaway. Livingston, a six-year-old from Wasilla, will receive a $25,000 scholarship account.

According to a news release, Livingston was awarded the scholarship account during an assembly at his school, Goose Bay Elementary. Lael Oldmixon, director of the UA College Savings Plan announced the award at the end of a presentation on the value of education, to the surprise of Livingston and his parents. Peyton Livingston currently aspires to be a veterinarian when he grows up.

“We have always wanted an education for our children and felt that saving their permanent fund dividends was a good way to get started. We are so appreciative of this gift,” said Elizabeth Livingston, Peyton’s mother.

The UA College Savings Plan has offered the scholarship account giveaway annually for the last eight years to provide Alaska families an additional incentive to save their permanent fund dividends (PFD) for higher education expenses. All PFD applicants who choose to contribute half their dividend to a UA College Savings Plan are entered in the giveaway. This year, 13,543 applicants were eligible for the random drawing. The scholarship account is funded by the Education Trust of Alaska, which was established in 2001 to administer the UA College Savings Plan.

“The $25,000 scholarship account giveaway offers a great incentive for Alaskans to save half of their PFDs in the UA College Savings Plan and supports our goal to inspire Alaska families to save for higher education. It also gives us a great opportunity to reinforce a college going culture with our youngest Alaskans,” said Oldmixon.

Individuals enrolled in the UA College Savings Plan may use their savings account to pay for education expenses at any eligible college, university or vocational/technical school in Alaska or the lower 48. Families can open one of the tax-advantaged accounts with their PFD contribution or with as little as $25 a month.

Photos of the announcement event are available here. More information on the UA College Savings Plan can be found at http://www.uacollegesavings.com/.