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FOR IMMEDIATE RELEASE
May 6, 2026
From First Grade to College Freshman: 2014 Scholarship Winner's Account Grows to $50,000
ANCHORAGE, ALASKA – In 2014, Warren Hayes of Chugiak was a six-year-old first grader who measured the value of his $25,000 Alaska 529 scholarship account win in slices of pizza. Today, as a graduating senior from Chugiak High School, that initial investment has doubled to more than $50,000, providing him a debt-free path to a degree in Mechanical Engineering at the University of Alaska Fairbanks.
The Hayes family’s journey highlights the transformative power of long-term investing through Alaska 529. Every year, Alaska 529 awards a $25,000 scholarship account to one Alaska resident who chooses to invest half of their Permanent Fund Dividend into a 529 account. For Warren, that random drawing twelve years ago became a foundation for his future.
“What a shock! We’ve been smiling every day since,” said Guy Hayes, Warren’s father. “Winning this scholarship in first grade was huge. We loved watching it grow every year, and it provided us an opportunity to discuss the importance of 529 plans and what saving can do for your future.”
While investment returns are never guaranteed, the growth of Warren’s account from $25,000 to over $50,000 illustrates how time and market participation can work together over the long term. This outcome serves as a powerful example of the 'set it and forget it' philosophy Alaska 529 encourages. Guy Hayes, a Scoutmaster for Troop 229 in Eagle River, has used Warren’s story to mentor young Alaskans on the importance of personal management and the potential benefits of long-term investing.
“It’s shaped so many conversations,” Guy Hayes said. “Teaching personal management skills, compounding interest, and investments are conversations I have regularly. We’ve shared Warren’s story with countless people and encouraged them to start saving for their kids’ future early.”
The impact of the scholarship went beyond the balance sheet; it helped steer Warren’s academic path. After receiving a congratulatory letter and swag from UAF as a first-grader, Warren pinned a Nanook pennant to his wall, where it has stayed for 12 years. This fall, he will head to Fairbanks as an Eagle Scout and former Executive Officer for the Chugiak Navy JROTC, supported by his Alaska 529 account, the Alaska Performance Scholarship, and the Adeline Campbell Service Award.
“Choosing to stay in school in Alaska will help our kids come out of college debt-free,” Guy Hayes noted. “But it was nice to know they could go just about anywhere with it. No matter our financial situation, we always put at least half of their PFD in every year. We just planned our budget around it.”
Frankie Dashiell, Alaska 529’s associate director, joined Warren at his senior awards night to present him with a ceremonial check reflecting the matured value of his account.
“Warren’s story is exactly why this program exists,” said Dashiell. “Watching a $25,000 prize grow alongside a student for over a decade to reach $50,000 is incredible. We are honored to have played a part in Warren’s journey from a first grader dreaming of pizza to a future engineer.”
For more information about Alaska 529 and how to enter the $25,000 scholarship account drawing by investing a PFD, visit Alaska529plan.com.
About Alaska 529: Alaska 529 is a tax-advantaged 529 education savings plan designed to help families save for future education expenses. The plan is open to residents of any state and can be used at eligible colleges, universities, and vocational schools nationwide.
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Contact:
Frankie Dashiell
(907) 786-7744
Alaska529outreach@alaska.edu
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