Hooray, it’s May!
We’re making the month of May one big, happy Vermont 529 Day.
Vermont 529 Day is May 29 (get it?), named for 529 college savings plans that help families plan and pay for college. In Vermont, the Vermont Higher Education Investment Plan has over 18,000 accounts worth over $325 million – all of which goes to pay for training and education after high school. In fact, since 1999, 5,192 students have used over $124 million from the plan to pay their education expenses.
VSAC, which administers the plan, has teamed up with the Vermont Lake Monsters and Burlington Moms Blog to encourage college savings. All month in May, people can enter to win $529 in a VHEIP college savings account.
At every home Lake Monsters game, one lucky kid will be chosen to see how fast he or she can pitch and that’s how much will go into a VHEIP account. If the pitch is 100 mph, $100 goes into college savings.
And every kid who joins CHAMP’s Kids Club will be entered to win $100 in a VHEIP account – when they come out to the ballpark on Kids Club days. They also can pick up their own pink piggy bank. Find out more about our partnerships with CHAMP and the Burlington Moms Blog at www.vheip.org/CHAMP.
And, speaking of kids, VSAC is joining with the Vermont Association of Hospitals and Health Systems, to give a $100 college savings account to every baby born on May 29.
These efforts are a great start to planning for college. All Vermonters will need some form of education or training after high school to be qualified for Vermont’s future jobs. And, research shows that students from families who save even a small amount (less than $500) for education are three times more likely to go and four times more likely to graduate.