Saving for College With VHEIP
SUMMERTIME SAVINGS
Give the gift of education!
All summer long, your savings with VHEIP will be working hard to help you prepare for college costs. Open or contribute to your account today ... and invite others to give a gift too!
Join us for summer fun, too, as VSAC teams up with the Vermont Lake Monsters and other partners to encourage college savings. Check out our full season of events throughout the state at the VHEIP website calendar.
- Find out more about what's in store at the ballpark at www.vheip.org/CHAMP.
- We're promoting college savings at Thunder Road in Barre all summer long at the weekly races, where you can see VSAC and VHEIP logos on car #17 driven by Trevor Lyman!
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.
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.
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.