Vermont Business Magazine Fourteen babies born at Vermont hospitals on May 29 will each receive $100 in a 529 college savings account from Vermont Student Assistance Corp. The Vermont Association of Hospitals and Health Systems partners with VSAC, which administers Vermont’s 529 college savings plan, to help educate Vermont families about saving for college for their children.
Northwestern Medical Center and University of Vermont Medical Center both welcomed four babies while two babies were born at Central Vermont Medical Center, and one baby was born at Rutland Regional Medical Center, Porter Medical Center, Southwestern Vermont Medical Center and Gifford Medical Center.
“The Vermont Association of Hospitals and Health Systems congratulates all the families who welcomed babies into the world on May 29,” said Jeff Tieman, VAHHS President and CEO. “Vermont hospitals work hard to ensure that families are connected to the resources they need to raise healthy families. Our partnership with VSAC on 529 Day is important to helping the families we serve.”
Any family who has not yet filled out the paperwork to set up the account can contact Sabina Haskell at [email protected] or by calling 802-542-2240.
A 529 plan is an education savings plan operated by a state or educational institution designed to help families set aside funds for future college costs. It is named after Section 529 of the Internal Revenue Code, which created these types of savings plans in 1996.
Research shows that children with college savings are three times more likely to attend college and four times more likely to graduate than children with no college savings.
Also, parents of newborns can encourage family and friends to contribute to their child’s VHEIP account through e-gifting. Family and friends can make significant contributions to a child’s college savings account over time through birthday, holiday and graduation gifts. E-gifting makes it easy to contribute to a VHEIP account online and the valuable gift will last a lifetime.
About VSAC – Changing Lives through Education and Training since 1965
Vermont Student Assistance Corporation is a public, nonprofit agency established by the Vermont Legislature in 1965 to help Vermonters achieve their education and training goals after high school. VSAC serves students and their families in grades 7-12, as well as adults returning to school, by providing education and career planning services, need-based grants, scholarships and education loans. VSAC has awarded more than $600 million in grants and scholarships for Vermont students, and also administers Vermont’s 529 college savings plan.
VAHHS is a member-owned organization devoted to improving the health status of communities throughout Vermont. Its activities include advocacy, policy development, education and research. VAHHS works in partnership with dozens of Vermont health care organizations on a wide variety of issues, providing educational and research services for members and non-members alike. VAHHS supports coordination of our members' health care services with other health or social service organizations. For more information, visit www.vahhs.org.