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Save for college & training with VT529
September is College Savings Month!
National College Savings Month highlights the importance of preparing now for your kids' (or grandkids') education and training ... because 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 for parents, grandparents, and friends to help families pay for that training, so that the savings will be there when the students need it. 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. And you'll get state and federal tax benefits to make your savings go further.
Plus, during the month of September, any Vermont resident or VT529 account owner can enter a drawing for $529 in savings for future education. You do not need to have an existing VT529 account to enter. The drawing entry period runs Sept. 1-Sept. 30. See the official rules and sign up to enter!
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.
Get a VT tax credit.
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).
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. Learn more. Plus, gifts made by a Vermont taxpayer into any VT529 account are eligible for the Vermont state income tax credit.