Twelve babies born May 29 to receive $100 college savings accounts
VSAC and Vermont hospitals partner to celebrate 529 Day
WINOOSKI (June 7, 2016) – Twelve babies born at Vermont hospitals on May 29 will each receive $100 in a 529 college savings account from Vermont Student Assistance Corp.
The Vermont Association of Hospitals and Health Systems partners with VSAC, which administers Vermont’s 529 college savings plan, to help educate Vermont families about saving for college for their children.
University of Vermont Medical Center welcomed six babies while one baby was born at Central Vermont Medical Center, North Country Hospital, Northeastern Vermont Regional Hospital, Porter Medical Center, Rutland Regional Medical Center and Southwestern Vermont Medical Center.
Northeastern Vermont Regional Hospital also matched $100 to the college savings account for the baby born there.
“NVRH believes all of our babies have bright futures, and we are proud to help connect this family with resources to help them succeed years from now,” said Paul Bengtson, chief executive officer.
Any family who has not yet filled out the paperwork to set up the account can contact Sabina Haskell at Haskell@vsac.org or by calling 802-542-2240.
A 529 plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. It is named after Section 529 of the Internal Revenue Code, which created these types of savings plans in 1996.
Research shows that children with college savings are three times more likely to attend college and four times more likely to graduate than children with no college savings.
Also, parents of newborns can encourage family and friends to contribute to their child’s VHEIP account through e-gifting. Family and friends can make significant contributions to a child’s college savings account over time through birthday, holiday and graduation gifts. E-gifting makes it easy to contribute to a VHEIP account online and the valuable gift will last a lifetime.
About VSAC – Changing Lives through Education and Training since 1965
Vermont Student Assistance Corporation is a public, nonprofit agency established by the Vermont Legislature in 1965 to help Vermonters achieve their education and training goals after high school. VSAC serves students and their families in grades 7-12, as well as adults returning to school, by providing education and career planning services, need-based grants, scholarships and education loans. VSAC has awarded more than $600 million in grants and scholarships for Vermont students, and also administers Vermont’s 529 college savings plan. Share your VSAC story by email to myVSACstory@vsac.org or submit a video to YouTube. Find us at www.vsac.org or check in on Facebook and Twitter. #changing lives
VAHHS is a member-owned organization devoted to improving the health status of communities throughout Vermont. Its activities include advocacy, policy development, education and research. VAHHS works in partnership with dozens of Vermont health care organizations on a wide variety of issues, providing educational and research services for members and non-members alike. VAHHS supports coordination of our members’ health care services with other health or social service organizations. For more information, visit www.vahhs.org.