Nurturing Education Success for Children in Foster Care
As a foster parent, you have a key role in establishing a successful and promising future for the child or children in your care. You can also help form a foundation built on the importance of education and create a desire for learning by investing in their educational future.
By opening an Arkansas Brighter Future 529 Plan, you can help a child prepare for opportunities at a variety of eligible institutions including colleges & universities, graduate programs, vocational and trade schools, or any apprenticeship program that is registered and certified with the U.S. Department of Labor.
How it Works
Anyone who contributes to an Arkansas Brighter Future 529 account, as long as they are a resident of Arkansas, is eligible to receive the state tax deduction!
Opening an Account
Any foster parent can open an Arkansas Brighter Future 529 account for children in their care.
Ownership
The Arkansas Department of Human Services Division of Children and Family Services (DCFS) will maintain ownership of their account until the child is permanently placed, adopted, or reaches the age of 18.
Adoption
If the child is adopted, ownership of the 529 plan account will be moved to the adoptive parent. If the child is still in foster care at the age of 18, ownership of the 529 plan account will be transferred to the child.
Interested in Opening an Account for a Child in Your Care?
Step 1
Tell your contact at DCFS you want to establish an Arkansas Brighter Future 529 plan for a child in foster care.
Step 2
DCFS will work with our program manager to provide the necessary paperwork in order to open the account.
Step 3
Afterward, a DCFS representative will share the account number with you so that you are able to contribute as you wish.
Interested in getting in touch?
For more information on opening an account for a child or children in your care, please contact:
Chris Scott
Manager, Arkansas 529 Programs
Treasurer of State’s Office
1401 W. Capitol Avenue, Suite 275
Little Rock, AR 72201
chris.scott@artreasury.gov
501.682.5888
