A Mat-Su Valley 6-year-old is financially set for college thanks to the University of Alaska College Savings Plan.

Goose Bay Elementary first-grader Peyton Livingston was surprised at a school-wide assembly on Wednesday.

His parents have put aside half of their two sons’ permanent fund dividend checks into college savings plans; that automatically entered their kids to win a $25,000 scholarship.

“It's going to open up so many opportunities and options for him and we're so thankful that we don't have to worry about student loans for Peyton and I think he's going to be able to have any opportunity he wants for his future and that's really exciting for us,” Peyton’s mom Elizabeth Livingston said.

Lael Oldmixon, the executive director of the University of Alaska College Savings Plan said Peyton was chosen at random from 13,543 entrants.

“Our goal is to inspire families to save for college and to inspire a college-going culture in the state of Alaska,” Oldmixon said.

Any Alaskan who saves half of their PFD through this program will be entered to win. The sign-up for the 2018 Permanent Fund begins January 1.

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