VSAC will transfer the servicing of your Federal Student loans to American Education Services and the guarantee of all VSAC Federal Student loans to the Trellis Company, an approved Federal Guaranty Agency, over the weekend of March 16th. Click here for more information.
Save for college & training with VT529
Look to the future by creating education opportunities.
Just about any job or career your loved ones aspire to will require some form of education after high school. The VT529 plan offers an easy way to save for that future training, so that those education opportunities will be there when the students are ready.
Vermont’s program benefits family members of all ages, from babies to college and grad students as well as adults returning to training. There is no age or time limit on when your savings are used.
VT529 funds can help pay for tuition, computers, room and board or off-campus housing, travel, fees, and the costs for 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.
4 easy ways to save:
- Open a NEW VT529 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 VT tax credit.
With VT529, you'll get state and federal tax benefits to make your savings go further. 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 your VT529 credit for 2023 taxes.
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.
VT's 529 program ...
... is administered 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 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., including apprenticeship programs—as well as for 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.
... 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.