VSAC will be closed Monday, May 27, 2019 in observance of Memorial Day.
Saving for College With VHEIP
CELEBRATE VERMONT'S 529 DAY THIS MAY
Enter for a chance to win $529 in college savings!
In honor of National 529 Day on May 29th, VSAC, state administrator of the Vermont Higher Education Investment Plan, is offering a full month of college savings opportunities:
- During May, any Vermont resident or any VHEIP account owner is invited to enter the drawing for a chance to win a $529 deposit into a new or existing VHEIP college savings account.
- VSAC is also joining with the Vermont Association of Hospitals and Health Systems to give a $100 college savings account to every baby born in the state on May 29 (5-29!).
And that's just the beginning. Throughout the summer, VSAC is teaming up with the Vermont Lake Monsters (and CHAMP!) to encourage college savings. Find out more about what's happening at the ballpark.
Start saving with just $25.
For most families, saving enough to pay for the costs of higher education can seem overwhelming. But with planning, funding a college education can be easier to achieve than you might think. And research shows that saving even small amounts for college or training can make a difference in putting a child's future education within reach. With Vermont's state-sponsored 529 plan, you can open an account with just $25 or give any amount as a gift. Every dollar you save now will reduce what you need to borrow later on, and your investment will benefit from federal and state tax advantages. Find out why the Vermont 529 college savings plan makes sense for your family's education plans.
Get a Vermont tax credit.
The Vermont Higher Education Investment Plan is the only savings program that qualifies for a 10% Vermont state income tax credit on qualified 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.
VHEIP QUICK FACTS
… 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.