Saving for College With VHEIP
GIVE THE GIFT OF EDUCATION OPPORTUNITY.
This year, give a gift that lasts long past the holidays. Now is the perfect time to open a Vermont 529 college savings account or invite friends and family to contribute to college savings as a gift! You can add to an account you own or give a gift to another person's account. Plus, Vermont taxpayers can get a Vermont income tax credit as they save for a child or loved one.
Contribute by 12/31 to get the 2017 VT income 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 (up to $250 per child per account, or $500 per child for joint tax filers). Gifts made by a Vermont taxpayer to any VHEIP account are eligible.
Now is the perfect time to start.
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. 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.
VHEIP QUICK FACTS
… 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.