VSAC and Vermont hospitals celebrate 529 Day
Vermont Business Magazine It’s never too early to start saving for college. VSAC and Vermont Association of Hospitals and Health Systems are delighted once again to partner on this exciting annual event to raise awareness of the value of planning and saving for college – even on day-one. This year, 18 babies born at Vermont hospitals on May 29 will each receive $100 in a 529 college savings account from Vermont Student Assistance Corp.
It was a big 529 Day for Rutland Regional Medical Center and UVM Medical Center, which each welcomed five babies! Brattleboro Memorial Hospital and Gifford Medical Center each had three babies. At both Copley Hospital and Northeastern Vermont Regional Hospital, one baby arrived.
“VAHHS is excited to welcome 18 new Vermonters into the world,” said Jeff Tieman, President and CEO of the Vermont Association of Hospitals and Health Systems. “This annual partnership with VSAC is such a positive way to connect our patients and families to this great resource. I hope all families consider a 529 account to begin saving for college; you can open an account with as little as $25.”
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,” said Scott Giles, VSAC president. “We know that higher levels of educational attainment correlate to better health so there’s a strong connection between VAHHS and VSAC’s work, which is why we are so grateful for their continued collaboration.”
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.
Any family who has questions or who has not yet filled out the paperwork to set up the account can can email [email protected]. To learn more about 529 college savings accounts and open an account online, visit: https://www.vheip.org/open-account/
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. Share your VSAC story by email to [email protected] or submit a video to YouTube. Find us at www.vsac.org or check in on Facebook and Twitter. #changing lives
About VAHHS
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.
Source: Montpelier (June 4, 2019) – VSAC. For more information, visit www.vahhs.org.