Saving for College With VHEIP

Vermont's 529 College Savings Plan

CELEBRATE VERMONT'S 529 DAY THIS MAY

Enter for a chance to win $529 in college savings!

In honor of National 529 Day on May 29th, VSAC, state administrator of the Vermont Higher Education Investment Plan, is offering a month of college savings opportunities:

  • During May, any Vermont resident or any VHEIP account owner is invited to enter a drawing for a chance to win a $529 deposit into a new or existing VHEIP college savings account.
  • VSAC is also joining with the Vermont Association of Hospitals and Health Systems to give a $100 college savings account to every baby born in the state on May 29th (on the lucky date of 5-29!).

And that's just the beginning. Throughout the summer, VSAC will be teaming up with the Vermont Lake Monsters to encourage college savings, with events at the ballpark. Find out more about what's in store at www.vheip.org/CHAMP.

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Start saving with just $25.

For most families, saving enough to pay for the costs of higher education can seem overwhelming. But with a little planning, funding a college education can be easier to achieve than you might think. And research shows that saving even small amounts for college can make a difference in putting a child's future education within reach. With Vermont's state-sponsored 529 college savings plan you can open an account with just $25 to start or give any amount as a gift.

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Get a Vermont tax credit.

The Vermont Higher Education Investment Plan is the only college savings program that qualifies for a 10% Vermont state income tax credit on annual contributions for higher education (up to $250 per child per account, or $500 per child for joint tax filers). Contributions made by a Vermont taxpayer to any VHEIP account are eligible.

LEARN ABOUT TAX BENEFITS >

How does the new federal tax law impact 529 accounts?

The federal tax act of 2017, signed into law in December, includes provisions related to 529 plan accounts, beginning with the 2018 tax year. Read about the current details at www.vheip.org

VHEIP QUICK FACTS

VHEIP ...

… is administered by VSAC for the state of Vermont

... has a low minimum contribution; open an account with just $25! Research shows that students from families who save even small amounts for education are three times more likely to go on to and complete college or other training.

... savings can be used at eligible higher education institutions throughout the U.S.—as well as many schools in Canada and around the world

... savings can be used for tuition and fees, room and board, books and supplies, and education expenses for students with special needs

… is the only 529 college savings plan that offers a Vermont state income tax credit on annual contributions

… gifts can be made to another person's VHEIP account. You do not have to own a VHEIP account to give a gift for a child or loved one. Learn more. Plus, gifts made by a Vermont taxpayer into any VHEIP account are eligible for the Vermont state income tax credit.