COVID-19 updates & ways VSAC can help
Save for college & training with VT529
Thank you to all our '802 Future You' participants!
We are truly inspired by the students who shared their job of their dreams with us during our ‘802 Future You’ 5-2-9 giveaway that kicked off in September during National College Savings Month and concluded mid-October. To encourage families to start thinking ahead as they prepare for their kids’ future college and training, VSAC, administrator of Vermont's 529 plan, invited Vermont students preK-6th grade to draw a picture of a job they are curious about and have their parent/guardian post it on social media (or send to us via mail or email) to enter to win a VT529 college savings account.
Eight students received $200 in VT529 savings, and one lucky winner got $529 toward their future education or training. Congrats to the winners, and thank you to all — from the future actors, artists, apple pickers and bakers to the teachers, video game makers, and weather forecasters of tomorrow — who participated. Go after your dreams!
Start now to save for a child's future with VT529. Just about any job your children or loved ones aspire to will require some form of education after high school. Saving now for that training helps create education opportunities that last a lifetime. The VT529 plan is an easy way for parents, grandparents, and friends to help families prepare for those goals ... and get state and federal tax benefits as you save.
View the VSAC Shows You How 529 webinar recording
In our VSAC Shows You How webinar, simulcast to VSAC's Facebook page on September 28, VSAC panelists Marilyn Cargill, vice president of financial aid services, marketing and research, and Richard Westman, VSAC's manager of the VT529 program, explained what a 529 plan is, and how they help families save for education, with tax benefits to make saving easier. Missed the event? View the recording here.
Give the gift of education.
Celebrate graduations, birthdays or special occasions with VT529 savings. Choose from 4 options:
- Open a NEW account.
- Add to an EXISTING account owned by someone else.
- Purchase or redeem a Gift of College gift card.
- Account owners: Invite others to give a gift to your VT529 accounts via eGift.
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 directly into any VHEIP account are eligible.
VHEIP has a new name!
VSAC, state administrator of the Vermont Higher Education Investment Plan, is pleased to announce that VHEIP will now also be referred to as VT529. It's easy to say, easy to spell, and easy to understand and remember. So we're changing up the way we refer to the program, but our commitment to helping you save for college & training remains the same. Keep an eye out for the new look!
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.
Saving with Vermont's 529 plan during COVID-19: A message from Scott Giles, VSAC president & CEO.
For more updates about COVID-19 & ways VSAC can assist you, click here.
VT's Higher Education Investment Plan ...
… 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.