News & Info
VSAC announces a new program manager for Vermont’s official 529 college savings plan, the Vermont Higher Education Investment Plan.
Read the Press Release. (PDF)
FAQs about the change.
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Vermont Higher Education Investment Plan (VHEIP)
The Vermont Higher Education Investment Plan (VHEIP), Vermont’s official 529 college savings plan, is designed to encourage Vermonters to invest for college or other post-high school programs. You can contribute even small amounts. Favorable tax treatment may help boost the growth of your contributions and earnings.
Visit VHEIP now.
Exceptional tax breaks
VHEIP is the only 529 college savings plan that offers Vermonters exceptional tax breaks on both federal and state taxes. In Vermont, tax breaks include:
- an income tax credit on contributions
- As of the 2009 tax year, the tax credit (the reduction in taxes owed) is 10 percent of the first $2,500 contributed annually, or up to $250, per taxpayer per beneficiary.
- an income tax exemption on earnings (when used for qualified higher education expenses).
- Earnings are federally tax-deferred and, if part of qualified withdrawals, free of federal and Vermont income tax. When you make withdrawals for qualified expenses, 100 percent of your money will be available for qualified higher education expenses.
- Give the gift of education
Family and friends, let students know you support their education plans. Make a contribution to your student’s VHEIP account or open a new account.
Commemorate your gift with a VHEIP Gift of Education Certificate.
Print the certificate, add a personal message, and present it to your loved one for any special occasion.
At your service
- Apply online
- Call 800-637-5860
Monday through Friday
8:00 am–8:00 pm
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