Vermont 529 College Savings Plan – Vermont Higher Education Investment Plan

Vermont 529 College Savings Plan

The Benefits Of 529 College Savings PlansAbout: The Vermont Higher Education Investment Plan is Vermont’s official 529 college savings plan. Since VHEIP began in 1999, it has helped thousands of Vermont students (and parents/relatives) of all ages and incomes go to college or continue in other post-high school programs. VHEIP is the only 529 college savings plan that offers Vermont taxpayers a VT state income tax credit on annual contributions.The Vermont Student Assistance Corporation sponsors VHEIP for the state of Vermont, and has done so since the Plan was created.

Website: https://vheip.org/

Phone #: 1-800-637-5860

Investment Options: The Managed Allocation Option contains 6 portfolios of underlying mutual funds for the Vermont Higher Education Investment Plan. Contributors can also choose from among 5 multi-fund options (Diversified Equity Portfolio, Equity Index Portfolio, Balanced Portfolio, and the Fixed Income Portfolio, and the Treasury Obligations Portfolio). Contributions are managed by Mutual funds from TIAA-CREF, Vanguard. DFA, and the Federated Treasury Obligations Fund.

Tax Benefits: Contributions to the Vermont 529 plan of up to $2,500 per beneficiary per year by an individual, and up to $5,000 per beneficiary per year by married taxpayers who each make their own contributions, are eligible for a 10% tax credit against Vermont income tax. The principal portion of a rollover from another 529 plan is eligible for the credit, provided the funds remain in the account for the remainder of the taxable year

State Residency Requirements: No state residency is required to participate in Vermont 529 College Savings Plans.

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