May 29th is National College Savings Day

Enter for a chance to win $529 in college savings!
National 529 College Savings Day, recognized on May 29, highlights 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 celebrating with VT529 savings opportunities for Vermonters and VHEIP account owners of all ages:

  • 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 Green Mountain State on May 29, 2023.
  • From May 16-June 16, any Vermont resident or VHEIP 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.

Whatever the age of your kids (or grandkids), Vermont’s 529 savings plan can help you create education opportunities for them … and offers you federal and state tax benefits.

Prepare for their future education & get a VT tax credit.

Just about any job your children or loved ones aspire to will require some form of college or training after high school. Saving now for that education with VT529 is a smart way to prepare. As Vermont’s official 529 savings program, it is the only plan that offers a 10% Vermont state income tax credit. Contributions deposited into a VT529 account during the year (by December 31) are eligible.

It’s easy to start saving.

VT529 funds can be used for apprenticeships and student loan repayment, too!

The Vermont tax law allows two new uses of funds withdrawn from a VT529 account without adverse impact on the Vermont income tax credit: (1) for apprenticeship programs registered and certified with the U.S. Secretary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. See the news video and watch the “You Can Quote Me” segment with VSAC President Scott Giles.