Home / FAQ / Frequently Asked Questions - Program Manager Who is the program manager for VHEIP? VHEIP is managed on behalf of the state of Vermont by the Vermont Student Assistance Corporation (VSAC), a public, nonprofit corporation established by the Legislature in 1965 to provide Vermont residents with the information and financial resources they need to pursue education or training beyond high school. VSAC is the investment manager for the Interest Income Option, which is distributed by Teachers Personal Investors Services, Inc., and TIAA-CREF Individual & Institutional Services, Inc. TIAA-CREF Tuition Financing, Inc. (TFI), is the investment manager for the Managed Allocation Option and the 100% Equity Option and is the program administrator for the Interest Income Option. TFI is a part of TIAA-CREF, a financial services organization with nearly 90 years of investment experience, and has more state 529 college savings plans under management than any other financial services provider. TFI is a wholly owned subsidiary of Teachers Insurance and Annuity Association of America, (TIAA), a stock life insurance company organized under the New York insurance laws. TIAA, together with its companion organization CREF (College Retirement Equities Fund), form a nationally recognized financial services organization with more than $437 billion in assets under management as of September 30, 2007. TFI is an affiliate of TIAA-CREF Individual and Institutional Services, LLC, the distributor for the Vermont Higher Education Investment Plan. Visit TIAA-CREF. Read more FAQs.

WE'RE HERE TO HELP Have a question you don't see listed? Need clarification? Call us toll-free at 1-800-637-5860 We're available 8:00 am - 8:00 pm Eastern Time, Monday - Friday Don't forget you can set up an Automatic Contribution Plan (PDF, 157KB) or use Payroll Deduction (PDF, 45KB) for your contributions (if offered by your employer). PDF files require the free Adobe Acrobat Reader. Get it here. Access our glossary for the meanings of terms used throughout this site. Tell a Friend Let a friend know about the Vermont Higher Education Investment Plan. Calculate Your Savings Need Compare College Savings Options Questions? Call 1-800-637-5860 Vermont Student Assistance Corp. VSAC information & tools personalized for you!

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The tax information contained on the Vermont Higher Education Investment Plan (the Plan) Web site is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed in the Web site. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

The Plan is administered by the Vermont Student Assistance Corp. (VSAC). TIAA-CREF Tuition Financing, Inc. (TFI) serves as Program Manager. TFI's affiliate, TIAA-CREF Individual & Institutional Services, LLC, is the distributor. The Plan Web site contains information about the Managed Allocation Option, 100% Equity Option and the Interest Income Option. Investment management for the Managed Allocation and 100% Equity Options is provided by TFI while investment management of the Interest Income Option is provided by VSAC.

The investment approaches described are not recommendations and do not take into consideration personal goals or preferences. After evaluating information you consider important in making an investment choice, the ultimate decision is up to you. It is a good idea to revisit your investment strategy periodically as your goals, personal financial situation, and market conditions change.

Consider the investment objectives, risks, charges and expenses before investing in the Plan. Please call toll-free 1-800-637-5860 for a Disclosure Booklet containing this information. Read it carefully.

Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.

The State of Vermont, its agencies, VSAC, TIAA-CREF Tuition Financing, Inc., Teachers Insurance and Annuity Association of America and its affiliates do not insure any Account in the Plan or guarantee its principal or investment return. Account value will fluctuate based upon a number of factors, including general market conditions.

The Plan Web site is for informational purposes only, and does not constitute an offer to sell or solicitation of an offer to buy any security that may be referenced on the site. Such offer or solicitation can be made only through the Disclosure Booklet.

The Plan Web site contains links to other Web sites. Neither the Plan nor TFI and its affiliates are responsible for the content of those other Web sites. The accuracy of information on those sites cannot be confirmed.