§ 2880e. Withdrawal of Program funds
§ 2880e. Withdrawal of Program funds (a) Subject to the provisions of this section, the Investment Plan requirements under subchapter 7 of this chapter, and the rules, policies, and procedures adopted by the Corporation, a Program beneficiary shall be entitled to Program funds deposited or allocated by the Corporation for his or her benefit if: […]
§ 2880f. Rights of beneficiaries and their families
§ 2880f. Rights of beneficiaries and their families (a) A parent or legal guardian shall be allowed to opt out of the Program on behalf of his or her child. (b) An individual otherwise eligible for any benefit program for elders, persons who are disabled, families, or children shall not be subject to any State […]
§ 2880g. Financial literacy programs
§ 2880g. Financial literacy programs State agencies and offices, including the Agencies of Education and of Human Services and the Office of the State Treasurer, in collaboration with existing statewide community partners and nonprofit partners that specialize in financial education delivery and have developed an available infrastructure to support financial education across multiple sectors, shall […]
§ 2880h. Program Fund Advisory Committee
§ 2880h. Program Fund Advisory Committee (a) There is created a Vermont Universal Children’s Higher Education Savings Account Program Fund Advisory Committee to identify and solicit public and private funds for the Program and to advise the Corporation on disbursement of funds. (b) The Committee shall be composed of the following 11 members: (1) the […]
§ 2879b. Effect of payments in computation and determination of financial aid need
§ 2879b. Effect of payments in computation and determination of financial aid need Amounts available for the payment of postsecondary education costs pursuant to the Investment Plan shall be considered family assets of the beneficiary in determining need and eligibility for student aid as determined by applicable law. (Added 1997, No. 79 (Adj. Sess.), § […]
§ 2879c. Tax exemption
§ 2879c. Tax exemption (a) The assets of the Vermont Higher Education Investment Plan held by the Corporation and the assets of any similar plan qualified under Section 529 of the Internal Revenue Code and any income from them shall be exempt from all taxation by the State or any of its political subdivisions. Income […]
§ 2879d. Property rights to assets in the Plan
§ 2879d. Property rights to assets in the Plan The assets of the Vermont Higher Education Investment Plan shall at all times be held in trust for the benefit of the participant, shall not be commingled with any other funds of the Corporation or the State, shall be preserved, invested, and expended solely and only […]
§ 2879e. Construction and application
§ 2879e. Construction and application This subchapter shall be construed liberally in order to effectuate its legislative intent. The purposes of this subchapter and all provisions of this subchapter with respect to powers granted shall be broadly interpreted to effectuate such intent and purposes and not as to any limitation of powers. This subchapter shall […]
§ 2879f. Annual reports
§ 2879f. Annual reports The Corporation shall review, on an annual basis, the financial status of the Program and the participation rate in the Program. The Corporation shall also review the continued viability of the Program and the administration of the Program by the Corporation. (Added 1997, No. 79 (Adj. Sess.), § 1, eff. July […]
§ 2880. Definitions
§ 2880. Definitions As used in this subchapter: (1) “Approved postsecondary education institution” means any institution of postsecondary education that is: (A) certified by the State Board of Education as provided in section 176 or 176a of this title; (B) accredited by an accrediting agency approved by the U.S. Secretary of Education pursuant to the […]