Did you graduate from a college in Vermont from December 2023 – June 2024? If you’re living in Vermont and working for a Vermont-based company, you may be eligible for $5000 in loan repayment! Learn more at the GMJRP page.
Save for college & training with VT529
Vermont's 529 College Savings Plan
Give them the gift of education. We have a plan.
Prepare for their future opportunities with VT529
This holiday season, consider planning for your loved ones' future opportunities with the lasting gift of education. Whatever the age of the children in your life, just about any job or career those students aspire to in the future will require some form of education after high school. VT529, Vermont's official 529 savings plan, offers an easy way for parents, grandparents, and others to help save for that training, so that those opportunities will be available when they're needed.
Plus, with VT529, you'll get state and federal tax benefits to make your savings go further, including a 10% Vermont income tax credit on annual contributions to your VT529 account.
What is a 529 plan?
529 education savings plans are designed to help families set aside funds for future training costs, with tax advantages to help make saving easier. The plans are named after Section 529 of the Internal Revenue Code, which created these types of savings plans in 1996. Most 529 plans are operated by state agencies, like VSAC. The VT529 plan benefits prospective students of all ages, from babies to grad students and even adults returning to training.
VT529 funds can help pay for tuition, computers, housing and meals or off-campus housing, travel, fees, and the costs for qualified 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.
VT529 funds can be used for qualified:
✓ apprenticeships
✓ certificate programs
✓ technical education
✓ college & grad school
... and more!
There is no age or time limit on when your savings are used. And if your intended beneficiary decides not to use the savings, you can transfer the funds to a different beneficiary. You are in control.
START NOW WITH THE VT529 SAVINGS PLAN
Get a Vermont 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 by December 31 are eligible for a VT income tax credit (up to $250 per beneficiary account, or $500 per beneficiary account for joint tax filers).
LEARN ABOUT VT529 TAX BENEFITS
4 easy ways to save and give a gift:
- Open a NEW VT529 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.
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.
Vermont's 529 program ...
... is sponsored 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, housing and meals, 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. Plus, gifts made by a Vermont taxpayer into any VT529 account are eligible for the Vermont state income tax credit.