VSAC makes loan rebates to borrowers – again

‘Borrower benefits’ program saves $2 million this year

WINOOSKI (July 18, 2018)— Vermont Student Assistance Corp. is giving $2 million in interest rebates to borrowers this year, part of its “borrower benefits” program that has saved students $180 million in loan costs since 1995.

“VSAC works to make college and career training more affordable for our students and families, because there is no question that Vermonters need to continue their education and career training after high school, if they want to be ready for Vermont’s economy,” said Scott Giles, VSAC president and CEO. “While education costs can seem daunting, VSAC is here to help students and families manage expenses, with grants, scholarships and lower interest rates on student and parent loans.” 

VSAC, as a public nonprofit agency, helps Vermonters continue their education, especially those from low-income families or who are the first in their families to enroll in post-high school education, Giles said.

“VSAC is here because of the vision of Governor Phil Hoff and the 1965 Legislature, and it has opened doors to college and opportunity for generations of Vermonters,” Giles said.

A portion of the interest that borrowers pay underwrites career and education counseling for over 5,000 students of all ages each year. It also helps VSAC to administer Vermont’s financial assistance programs, including over 12,000 state grants and 3,000 scholarships worth over $25 million each year.

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 vsacstudents@gmail.com or submit a video to YouTube. Find us at www.vsac.org or check in on Facebook and Twitter. #changing lives