Save for college & training with VT529

Important changes are coming to your VT529 account

As administrator of your VT529 education savings plan, VSAC is partnerning with a new plan manager as of October 2025. Our new partnership with Vestwell State Savings, LLC will bring you enhanced investment options, a new prepaid debit card, and a redesigned website.

For more detailed information about the upcoming plan changes, timeline of events, and FAQs, view or download the VT529 conversion guide.

Frequently Asked Questions

Who do I contact if I have questions? 

The customer service phone number (800-637-5860) will not change after the conversion, and the new team can be reached from 9am to 8pm ET Monday–Friday. The customer service email address will change to VT529@vestwell.com and VHIEPQuestions@VHEIP.org will be discontinued.

Why did we make this change?

VSAC’s current VT529 program management contract is expiring. Vestwell State Savings LLC was selected in an open-bid process to manage the VT529 program going forward.

Who is Vestwell?

Vestwell State Savings LLC is a financial technology company that powers savings programs for individuals and businesses, including state-sponsored initiatives, like 529 education savings plans, ABLE (Achieving a Better Life Experience) disability savings accounts, and Secure Choice/Auto-IRAs.

Vestwell currently manages Vermont Saves, Vermont’s auto-IRA retirement program, and Vermont ABLE, Vermont’s disability savings program.

Who will manage the money in my account?

With Vestwell and Bank of New York Mellon as our trusted partners, you’ll have the support of a strong financial management team behind your savings.

Is there anything I need to do as part of the conversion to Vestwell?

The VT529 team will continue to send you emails with step-by-step instructions leading up to the transaction pause beginning October 15 at 4pm ET through October 21 at 9am ET, and after the conversion is complete.

These emails will explain how to access your new account, new features to expect, and more. Please watch your email.  Emails will be sent from hello@updates.vestwell.com

Who will email more information about the conversion?

All email communications regarding the transition will be sent from hello@updates.vestwell.com. Please be sure to add this email to your address book to avoid any messages being sent to your spam folder.

Do I have a new account number?

Yes, after the conversion, your account number will start with 77, followed by your existing account number.

Will there be any delay in transactions or withdrawals?

During the conversion, transactions will be paused from 4pm ET on October 15 to 9am ET on October 21. We do not anticipate any other delays outside of that window.

Will I have access to my past account activity?

Yes, your current and historic account activity will be available in your new account.

In early January, you will receive your regular statement from Vestwell, the new plan manager, for the period ending December 31, 2025. Your quarterly statement will show all transactions from January 1, 2025 through December 31, 2025. Prior period statements and tax forms will also be available online after October 21, 2025.

How and where do I access my account?

After October 21, 2025, you will access your VT529 account at VT529.org. Vestwell will send you emails with step-by-step instructions in the weeks leading up to the October conversion. You’ll receive information from Vestwell, the new plan manager, about how to access your account on their secure portal.

What information will I need to access my account?

To access your account you will need:

• Social security number or Tax Identification
  Number
• Date of birth
• Residential address

When will detailed information about the new investment options be available?

As part of the transition, a new Plan Disclosure Booklet will be provided. This document will include a detailed description of the available investment portfolios. The Plan Disclosure Booklet will be available on the VT529.org website once the conversion is complete. Basic information on the new investment portfolios can be found below.

How will my account holdings be converted?

At the time of conversion, we will simply move your account holdings from their current investment options to the comparable new investment options.

If you would like to select a different option, you can easily exchange your funds using one of your two annual fund changes.

After the conversion is complete you will be prompted to change your password.

Does the automatic account conversion to Vestwell count toward my two allowed allocation changes each year?

This automatic account conversion will not count toward your two allowed annual allocation changes. Your investment choices will automatically be converted based on your current elections.

If you wish to select different fund options before the account conversion, using one of your two annual fund changes (if you have any remaining), this exchange must be completed prior to the blackout period beginning at 4pm ET on October 15, 2025.

If you have already completed two exchanges this year prior to the account conversion on October 21, 2025, you will have to wait until the following calendar year to make additional changes.

Will existing recurring contributions continue after the account conversion or will I have to set up new recur ring contributions from my bank account?

Existing recurring contributions will transfer automatically as part of the conversion so no action is required after the conversion. These contributions will now appear as “Vestwell” on your bank statements.

Will I have to set up a new direct deposit from my employer for payroll contributions?

Yes, Vestwell will send you the new payroll direct deposit information that you will need to provide to your employer/payroll provider.

Will I need to set up new eGift events?

Yes. After the conversion, you will need to manage your new gifting page through the new Vestwell portal. Your new gifting page will include a unique URL that you can share with friends and family to send eGift contributions.

When will my prepaid debit card be discontinued?

We have extended the usage period through November 15, 2025 to allow more time to use your funds on qualified expenses.

Why might I receive a check in the mail?

As part of the transition to Vestwell, your existing prepaid debit card will be discontinued on November 15, 2025. Any remaining funds will be returned to you via check from the current card provider, Transcard. The check will come in a plain white envelope and be addressed from Transcard.

To keep your tax credit associated with unused funds remaining on your prepaid debit card, any unused funds refunded to you by check must be used to pay for eligible education expenses by December 31, 2025. We encourage you to keep receipts of your expenditures in the event you need them to demonstrate the funds were used for eligible education expenses. Redepositing your refund check into your new VT529 account does not satisfy the requirement that you spend it on eligible education expenses by December 31, 2025.

Should you ever need any transaction history for your discontinued prepaid debit card, if you need a refund check re-issued, or have any other questions about the refund check you receive, please contact the card provider, Transcard, directly for assistance.

You can reach Transcard at: 800-416-6373

Will I be able to get a prepaid debit card after conversion?

Yes. You will be able to sign up for a prepaid debit card from your Account Overview page.

True Link Financial, Inc. is the financial technology company that powers the prepaid debit card’s features and services.

Prepare for their future opportunities

Start now with VT529 

Whatever the age of the children in your life, just about any job or career those students aspire to in the future will require some form of education after high school. VT529, Vermont's official 529 savings plan, offers an easy way for parents, grandparents, and others to help save for that training, so that those opportunities will be available when they're needed. 

Plus, with VT529, you'll get state and federal tax benefits to make your savings go further, including a 10% Vermont income tax credit on annual contributions to your VT529 account. 

What is a 529 plan? 

529 education savings plans are designed to help families set aside funds for future training costs, with tax advantages to help make saving easier. The plans are named after Section 529 of the Internal Revenue Code, which created these types of savings plans in 1996. Most 529 plans are operated by state agencies, like VSAC. The VT529 plan benefits prospective students of all ages, from babies to grad students and even adults returning to training.  

VT529 funds can help pay for tuition, computers, housing and meals or off-campus housing, travel, fees, and the costs for qualified apprenticeship programs or retraining at institutions throughout the U.S. (as well as at schools in Canada and around the world). You can even use the funds to pay back student loans. 

VT529 funds can be used for qualified:

✓ apprenticeships 

✓ certificate programs 

✓ technical education 

✓ college & grad school

... and more!

There is no age or time limit on when your savings are used. And if your intended beneficiary decides not to use the savings, you can transfer the funds to a different beneficiary. You are in control.

START NOW WITH THE VT529 SAVINGS PLAN

Get a Vermont tax credit. 

As Vermont's official 529 savings program, it is the only savings program that qualifies for a 10% Vermont state income tax credit on qualified annual contributions for higher education. Contributions deposited into a VT529 account by December 31 are eligible for a VT income tax credit (up to $250 per beneficiary account, or $500 per beneficiary account for joint tax filers). Learn how to claim the Vermont credit for tax year 2025.  

LEARN ABOUT VT529 TAX BENEFITS

4 easy ways to save:

1. Open a NEW VT529 account.
2. Add to an EXISTING account owned by someone else.
3. Purchase or redeem a Gift of College gift card.
4. Account owners: Invite others to give a gift to your VT529 accounts via eGift.

VT529 QUICK FACTS

For most families, saving enough to pay for the costs of higher education can seem overwhelming. But with planning, helping to pay for a college education and other training can be easier to achieve than you might think. Every dollar saved today will help you reduce what you may need to borrow later on. And research shows that saving even small amounts for college or training can make a difference in putting a child's future opportunities within reach.

Vermont's 529 program ...

... is sponsored by VSAC for the state of Vermont. It was created in 1999 by the Vermont Legislature as the Vermont Higher Education Investment Plan and is now also referred to as VT529.

... has a low minimum contribution; open an account with $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., including apprenticeship programs—as well as for many schools in Canada and around the world.

... savings can be used for tuition and fees, housing and meals, books and supplies, and education expenses for students with special needs.

... savings can be used for repayment of up to $10,000 per the lifetime of a beneficiary in student loans for post-secondary education.

… 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 VT529 account. You do not have to own a VT529 account to give a gift for a child or loved one. Plus, gifts made by a Vermont taxpayer into any VT529 account are eligible for the Vermont state income tax credit.