Scholarship Account Giveaway
Saving your PFD could win you a $25,000 scholarship account.
All Alaskans who automatically contribute half of their 2020 PFD will be entered to win a $25,000 scholarship account.* The drawing for the winner will occur on October 27, 2020 and the winner will be notified shortly thereafter.
You or your selected beneficiary can use the scholarship account at any eligible college, university, or vocational/technical school in the country.
The drawing for the 2019 winner occurred on October 28, 2019.
*The scholarship account will be funded by the Education Trust of Alaska. Certain restrictions apply, see the 2020 complete rules for details regarding the 2020 Scholarship Account Giveaway.
Frequently Asked Questions
Alaska 529, formerly known as the UA College Savings Plan is giving away one $25,000 scholarship account. The account can be used to pay for qualified higher education expenses at any eligible school in the country.
Anyone who answers "Yes" to the Alaska 529 question on the 2020 Permanent Fund Dividend application will be automatically entered. We will make one entry for each contribution made through the PFD application process. If you have family members who contribute through the PFD process, they will also be entered. Employees of the University of Alaska providing direct support to the Education Trust of Alaska, employees of T. Rowe Price Associates, Inc. ("T. Rowe Price") and its affiliates, employees of advertising and promotional agencies that support Alaska 529, the immediate family members and members of the households of all previously mentioned individuals, and all prior winners of the $25,000 or $2,500 Scholarship Account Giveaways, are NOT ELIGIBLE to participate.
Anyone who answers "Yes" to the Alaska 529 question on the 2020 PFD application qualifies. If you do not elect to contribute half of your PFD on the 2020 PFD Application, you can change your election online by logging into myPFD or fill out and submit the Alaska 529 Add form before June 17, 2020, to update your PFD application.
If you do not make the election on your 2020 PFD application, please contact the Department of Revenue and change your election online by logging into myPFD or fill out and submit the Alaska 529 Add form before June 17, 2020, to update your PFD application. Visit the PFD website to obtain the form, log into myPFD, or call the PFD office for more information.
The drawing will take place on October 27, 2020. The winner will be contacted in person or by phone and/or mail.
We will announce the winner to the public after they have been notified and their eligibility confirmed.
Yes, as long as you contribute to your Alaska 529 account through the 2020 Permanent Fund Dividend process.
No, only those who contribute to their Alaska 529 account through the 2020 PFD application process will be entered.
The scholarship account will expire 10 years from the award date or 10 years following the beneficiary's 18th birthday, whichever occurs later.
We will invest the funds in the Alaska 529 University of Alaska Portfolio and they will be subject to any market gains or losses.
No, the scholarship account must be invested in the University of Alaska Portfolio.
It depends on where you enroll. However, if you use the funds at the University of Alaska, the amount would currently cover tuition for approximately 102 credits, or about one year of tuition, fees, and room and board.
No. However, if the beneficiary uses the scholarship account to pay for tuition at the University of Alaska, the account will be covered by the tuition-value guarantee. As such, the account will be guaranteed to keep pace with tuition inflation at the University of Alaska.
The Education Trust of Alaska will be the account holder and must authorize any distributions.
If you are 18 years old or older, you can name yourself as the beneficiary on the account or you can allocate the funds to one or more other beneficiaries of your choice.
If a minor wins, he or she will be the beneficiary on the account. The PFD sponsor must complete the winner's Certificate of Consent and provide additional information on the minor's behalf to establish the account.
If the beneficiary doesn't attend college the account will eventually expire. The account may not be transferred once the account is established with the initial beneficiary(s).
If you win the scholarship account, we encourage you to consult your tax advisor to determine tax implications, if any.
You can use the scholarship account at qualified schools across the country.
The Education Trust of Alaska is funding the scholarship account and all related promotion.