Saving for College With VHEIP
With the gift of education
And be sure to join us throughout the summer, as VSAC teams up with the Vermont Lake Monsters (and CHAMP!) to encourage college savings. Find out more about what's happening at the ballpark and check out the full season of events throughout the state at the link below.
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.