IMPORTANT – If you’re a spring 2023 Vermont college grad who is staying in state and working for a Vermont-based company, you could be eligible for $5000 in loan repayment! CLICK HERE.
Save for college & training with VT529
Celebrate Vermont's 529 Day this May
Enter for a chance to win $529 in college savings!
National 529 College Savings Day is recognized on May 29 (5-29, get it?), highlighting the importance of 529 savings plans in helping families pay for college or training expenses. This year, VSAC, state administrator of Vermont's 529 plan, is again partnering with the Vermont Association of Hospitals and Health Systems to give babies born in the Green Mountain State on 5/29/23 a start on their education planning ... and we're inviting all Vermonters (baby or not!) to join in on VT529 savings opportunities, too.
- From May 16-June 16, any Vermont resident or VT529 account owner is invited to enter a drawing for a chance to win a $529 deposit into a new or existing VT529 savings account. See the official rules.
- VSAC is joining with the Vermont Association of Hospitals and Health Systems to give a $100 VT529 college savings account to every Vermont baby born in the state on May 29, 2023.
Whatever the age of your children (or grandkids), Vermont's 529 savings plan can help you create education opportunities for them ... and offers you state and federal tax benefits.
Prepare for their future education & get a VT tax credit.
Just about any job your loved ones aspire to will require some form of education after high school. The VT529 plan offers an easy way for parents, grandparents, and friends to help families pay for that training. And 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 are eligible for a VT income tax credit (up to $250 per beneficiary account, or $500 per beneficiary account for joint tax filers).
LEARN ABOUT VT529 TAX BENEFITS >
START NOW WITH THE VT529 SAVINGS PLAN >
4 easy ways to save
- 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.
Did you know? VT529 funds can be used for apprenticeships & student loan repayment, too. Vermont tax law allows funds withdrawn from a VT529 account without adverse impact on the Vermont income tax credit: (1) for apprenticeship programs registered and certified with the U.S. Secretary of Labor and (2) for repayment of up to $10,000 per the lifetime of a beneficiary in student loans for post-secondary education at an approved postsecondary education institution.
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 Higher Education Investment Plan ...
... is administered by VSAC for the state of Vermont. VHEIP is 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 VHEIP account. You do not have to own a VT529 account to give a gift for a child or loved one. Learn more. Plus, gifts made by a Vermont taxpayer into any VT529 account are eligible for the Vermont state income tax credit.