College financial assistance programs for veterans; tax benefits of college savings plans

Veterans college financial assistance briefings

Norwich University and the Vermont National Guard will be hosting two Veterans Educational Benefits Information Briefings at local armories.  Representatives from Norwich University, Veterans Affairs, financial aid and the Vermont Student Assistance Corp. will be available to answer questions and provide advice for veterans and their families.  All programs will begin at 6 p.m.

  • Wednesday, April 2: White River Junction Armory, 240 S. Main St.; White River Junction, VT  05101
  • Wednesday, April 9: Rutland Armory, 2143 Post Road, Rutland, VT  05701

For more information, contact Major Frank Hotaling 802-485-2712 or

 529 college savings plans a benefit at tax time


With tax season under way, most families are adding up deductions such as childcare expenses and charity donations to reap the largest refunds possible. According to the experts at the Vermont Higher Education Investment Plan, parents have another option for maximizing tax benefits while saving for their children’s future: a 529 college savings account.

“There are many options available to parents looking to save for their children’s education, but the ability to take advantage of the tax benefits of a 529 plan make it both a smart and popular choice,” said Scott Giles, president and CEO of the Vermont Student Assistance Corp., which administers the state’s 529 college savings plan.  “With the Vermont Higher Education Investment Plan, you can start a tax-free account online with as little as $25 and add to it as you can. Many employers offer an automatic payroll deduction to make it even easier to save.”

Tax credits available

A VHEIP account owner who is a Vermont taxpayer may receive a tax credit of 10 percent of the first $2,500 contributed per beneficiary, per year (or $5,000 per beneficiary for married taxpayers filing jointly). Rollovers from another state’s qualified tuition plan into VHEIP are also eligible for this income tax credit.

Contributions made to VHEIP by Dec. 31, 2014 are eligible for the credit on the 2014 state tax return. Accounts can be opened with as little as $25. 

Since the start of the VHEIP plan in 1999, Vermont families have saved more than $225 million for college tax-free through VHEIP. In 2012, $36 million was invested into VHEIP with about $1.8 million realized in tax credits.

For more information about VHEIP, visit or call the customer service center at 800-637-5860. Find us on Facebook at

For more information about the Vermont Student Assistance Corporation, a public, nonprofit corporation created by the Vermont Legislature in 1965 to help Vermonters plan and pay for education or training beyond high school, find it at or on Facebook at

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Filed Under: Education News

About the Author: This item was edited from one or more press releases submitted to The Chester Telegraph.

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