§ 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 (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 (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 (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 (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 […]
§ 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 (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 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 (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 […]
