§ 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 […]
§ 2880a. Vermont Universal Children’s Higher Education Savings Account Program established; powers and duties of the Vermont Student Assistance Corporation
§ 2880a. Vermont Universal Children’s Higher Education Savings Account Program established; powers and duties of the Vermont Student Assistance Corporation (a) It is the policy of the State to expand educational opportunity for all children. Consistent with this policy, the Vermont Student Assistance Corporation shall partner with one or more foundations or other philanthropies to […]
§ 2880b. Vermont Universal Children’s Higher Education Savings Account Program Fund
§ 2880b. Vermont Universal Children’s Higher Education Savings Account Program Fund (a) The Vermont Universal Children’s Higher Education Savings Account Program Fund is established as a fund to be held, directed, and administered by the Corporation. The Corporation shall invest and reinvest, or cause to be invested and reinvested, funds in the Program Fund for […]
§ 2880c. Initial deposits to the Program Fund
§ 2880c. Initial deposits to the Program Fund (a) Each year, the Corporation shall deposit $250.00 into the Program Fund for each eligible child born that year, beginning on or after January 1, 2016. (b) In addition, if the eligible child has a family income of less than 250 percent of the federal poverty level […]
§ 2880d. Vermont Higher Education Investment Plan accounts; matching allocations for families with limited income
§ 2880d. Vermont Higher Education Investment Plan accounts; matching allocations for families with limited income (a) The Corporation shall invite the parents or legal guardians of each Program beneficiary to open a Vermont Higher Education Investment Plan account on the beneficiary’s behalf. (b) The beneficiary, his or her parents or legal guardians, other individuals, and […]
§ 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.), § […]
§ 2877. Vermont Higher Education Investment Plan created
§ 2877. Vermont Higher Education Investment Plan created (a) There is created a program of the State to be known as the Vermont Higher Education Investment Plan and a trust for that purpose to be administered by the Vermont Student Assistance Corporation as an instrumentality of the State. The program may consist of one or […]
§ 2878. Participation agreements for Investment Plan
§ 2878. Participation agreements for Investment Plan The Corporation shall have the authority to enter into Investment Plan participation agreements with participants pursuant to the provisions of this subchapter, including the following terms and agreements: (1) A participation agreement shall stipulate the terms and conditions of the Investment Plan to which the participant makes contributions. […]
§ 2878a. Participation agreements for Investment Plan; Vermont Matched Savings Program
§ 2878a. Participation agreements for Investment Plan; Vermont Matched Savings Program The Corporation may participate in the Vermont Matched Savings Program established under 33 V.S.A. § 1123, in accordance with the rules of the Agency of Human Services adopted thereunder, in connection with an individual or family who, at the time of contributing funds into […]
§ 2879. Investment and payments
§ 2879. Investment and payments All money paid by a participant in connection with a participation agreement shall be credited to the participant’s account as received, held by the Corporation in trust for the benefit of the participant, and shall be promptly invested by the Corporation as selected by the participant from the investment options […]