VSAC highlights college savings with 529 account prizes

As part of National College Savings Month, the Vermont Student Assistance Corp. which oversees Vermont 529 college savings accounts is giving away in September five $100 college savings accounts and prize packages including ski passes, tickets to sporting events and more.

For details and to enter visit online at vheip.org. Winners will be randomly selected by VSAC and will receive $100 in a college savings account along with two tickets to one of the following ski areas: Jay Peak, Smugglers Notch, Sugarbush, Killington, or Stratton. Included in the package are tickets to sporting events at one of the Vermont State Colleges, University of Vermont, Vermont Lake Monsters, and passes to the Vermont State Parks and ECHO Lake Aquarium and Science Center.

Vermont Higher Education Investment Plan is Vermont’s official 529 college savings plan, giving investors a state income tax credit on contributions. Accounts may be started with as little as $25 and the state provides a tax credit of 10 percent on the first $2,500 per beneficiary, per year (or $5,000 per beneficiary per year for those filing jointly).

“By starting savings plans early, contributing regularly, and making smart investment choices, families can make their savings work for them while their children grow,” said Scott Giles, president and CEO of VSAC. VHEIP has over 20,000 accounts worth over $320 million – all of which goes to pay for training and education after high school.