VSAC selects Intuition College Savings Solutions to manage Vermont 529 Plan
VHEIP account holders will benefit from lower fees, more investment choices
WINOOSKI (August 14, 2015) – Vermont Student Assistance Corp. today announced it has selected Intuition College Savings Solutions to manage the Vermont Higher Education Investment Plan, the state’s 529 college savings plan.
Intuition College Savings Solutions, located in Tallahassee and Jacksonville, Florida, has provided comprehensive, customized plan management solutions for over 25 years to 10 different 529 plans.
“Intuition offers VHEIP account holders some strategic advantages and we believe families will value lower investment fees, a wider range of investment choices from Vanguard, TIAA-CREF and others, as well as expanded online services,” said Scott Giles, president and CEO of VSAC. “All Vermonters will need some form of education or training after high school to be qualified for Vermont’s future jobs. And, we know that students from families that save even a small amount for education are three times more likely to go.”
Choosing Intuition as its plan manager also allows VSAC to fully integrate financial and information resources for Vermonters and their families when planning for education after high school.
The Vermont Higher Education Investment Plan began in 1999 and currently has more than $270 million in assets under management from almost 16,000 account holders. Over the years, VHEIP has paid out $105 million for 4,300 students to continue their education.
Under the contract with Intuition, VHEIP accounts will automatically transfer by Sept. 14, 2015.
“Intuition has an excellent track record and it is our goal to make starting a VHEIP account as easy as possible to start and grow for future education needs,” Giles said.
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.orgor submit a video to YouTube. Find us at www.vsac.org or check in on Facebook and Twitter. #changing lives
The Vermont Higher Education Investment Plan, a 529 college savings plan, was established in 1999 and is Vermont’s only state-sponsored 529 plan and as such the only 529 plan eligible for the Vermont income tax credit on contributions. VHEIP is administered by the Vermont Student Assistance Corp. and managed by Intuition College Savings Solutions. For more information about setting up a VHEIP account, visit www.vheip.orgor call the customer service center at (800) 637-5860.
About Intuition College Savings Solutions
Intuition College Savings Solutions, LLC has a longstanding history and commitment to the 529 industry. With experience spanning over 25 years, ICSS provides comprehensive, customized plan management solutions for 10 distinct 529 plans. ICSS’s comprehensive administrative abilities and marketplace experience let its partners focus on the most important mission of all: plan awareness and helping families secure the educational future of their children. Visit intuitioncss.com.