Washington State University announced a new program that will assist over 400 low-income students with funding.
The program, Assets for Independence, will give students in need a chance to open a savings account with an interest rate of up to 400 percent. Under the program, students who save $1,000 throughout the year will receive $4,000 in matching funds. Dollars matched will be provided by a $1 million federal grant.
Students in the program also will receive academic support and financial literacy education. The funds from the account will go toward future educational expenses at the university.