Saving for College With VHEIP
CREATE EDUCATION OPPORTUNITIES
Open or add to a VT 529 savings account
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. Find out why the Vermont 529 savings plan makes sense for your family's education goals.
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.
Explore ‘802 Future YOU’ with VSAC’s 5-2-9 giveaway!
Vermont students in grades K-6: Pull out markers, pencils or crayons and draw a picture of a job you are curious about … and get a chance at free takeout and $200 (or more!) in VT’s 529 savings plan!
The VSAC 5-2-9 giveaway kicks off during National College Savings Month and runs from Sept. 21 to Oct. 23, to encourage families to learn more about the benefits of 529 plans for preparing for future college and training. For each of the next 5 weeks, 2 students and their families will win $50 in takeout from their favorite local grub hub. All participants will also be entered into a drawing for one of 9 new VHEIP savings accounts (or a $200 deposit into an existing account). That’s 5 weeks, 2 weekly takeout winners and 9 college savings plans for our 5-2-9 giveaway. Plus, one additional participant will win a grand prize of $529 in education savings.
Start saving with just $25. Or give any amount as a gift!
With Vermont's state-sponsored 529 plan, you can open an account with just $25 or give any amount as a gift. Learn more about how to open or contribute to a VHEIP account ... and how others can give a gift, too!
VSAC's Gift of College gift card
VSAC is please to offer Gift of College gift cards in $50 amounts at Vermont locations of Kinney Drugs and Cumberland Farms stores.
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 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.