Team up with CHAMP! VSAC, sponsor of Vermont’s 529 college savings plan, is excited to partner with the Vermont Lake Monsters for our 5th season to help you plan ahead for your child’s future and team up with CHAMP’s Kids Club for fun at the ballpark.
Get ready for a fun-filled summer … and get cash for college!
- Families coming to the ballpark on Kids Club and Outstanding Students dates have a chance to enter their names into a drawing for a VHEIP account. This summer’s Kids Club events are on June 20, July 14, July 27, August 2, and August 15; the Outstanding Students events are on June 22 and July 26.
- At the Pitch for Cash events for every home game, kids receive money toward a VHEIP account for each MPH registered by a fast pitch by one of the players. So a fast pitch of 90 mph means $90 into college savings for one lucky child that day!
- And as sponsor of the Outstanding Student Events (June 22 and July 26), VSAC recognizes students with a certificate and program mention.
Get in the game and get the info you need. Families can sign up for college planning tips and info with VSAC, so that they’ll be ready to create possibilities for your kids. Start now so you can swing big for the future.
By opening a Vermont 529 college savings account you’ll be creating opportunities for your child’s future training. Students from families who save even small amounts for education are three time more likely to go on to and complete college or other training after high school. And with VHEIP, you can open an account with as little as $25 to start! Vermont taxpayers are also eligible to get a Vermont state income tax credit on their annual contributions for college or training.
Learn more about saving for college with the VT 529 plan!

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Who is considered a family member of a 529 beneficiary?
A qualifying family member includes any siblings or step-siblings, natural or legally adopted children, stepchildren, parents or ancestors of parents, step-parents, first cousins, nieces or nephews, and aunts or uncles. In addition, the spouse of the beneficiary or the spouse of any of those listed above also qualifies as a family member of the beneficiary.
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Qualified higher education expenses include tuition, fees, and the cost of books, supplies, and equipment required for the enrollment and attendance of the beneficiary at an eligible educational institution, and certain room and board expenses. Qualified higher education expenses also include certain additional enrollment and attendant costs of a beneficiary who is a special needs beneficiary in connection with the beneficiary’s enrollment or attendance at an eligible institution. For this purpose, an eligible educational institution generally includes accredited postsecondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level degree or professional degree, or another recognized postsecondary credential.
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The federal tax act of 2017, signed into law in December 2017, includes provisions related to 529 plan accounts, beginning with the 2018 tax year:
- 529 withdrawals may be used to pay for qualified K-12 expenses for elementary or secondary public, private or religious schools effective January 1, 2018. These K-12 withdrawals are limited to $10,000 per student per year and apply to tuition expenses only. Withdrawals up to $10,000 per year per beneficiary for K-12 tuition expenses are not subject to federal tax, but the earnings on those withdrawals over $10,000 would be subject to federal tax.
- The Vermont 529 plan statute is written differently, however, and may impose negative Vermont income tax consequences on withdrawals for K-12 tuition. Therefore, for account owners who took the Vermont income tax credit on contributions to their 529 plan, amounts withdrawn for K-12 tuition expenses may be subject to a 10% recapture penalty on those withdrawals, and Vermont may impose tax on the gain realized with respect to the withdrawals.
VSAC, as administrator of the Vermont 529 plan, will provide information as details about the Vermont income tax effects are clarified. We encourage you to consult a qualified tax advisor or the Vermont Department of Taxes at tax.vermont.gov concerning federal and state tax implications for tax years 2018 and beyond, and to save documentation for how all VT 529 fund withdrawals are used.
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