The Fund, established in 1999, has now distributed more than $30 million to help create opportunities for students across the state
Vermont Business Magazine Today, Treasurer Mike Pieciak announced his office will distribute a record $2.6 million from the Higher Education Endowment Trust Fund (the Fund) to support Vermonters seeking higher education. The Treasurer’s Office manages the Fund which earned an 11.4% return last year.
The funds will be distributed to the University of Vermont (UVM), the Vermont State Colleges (VSC), and the Vermont Student Assistance Corporation (VSAC) to provide non-loan tuition assistance to Vermonters.
"At a time when the cost of living is higher for everything, the Higher Education Endowment Trust Fund is strengthening Vermont's workforce and our economy by making higher education more affordable and accessible,” said Treasurer Pieciak. “I want to thank the Legislature for its proactive work in creating the Fund to help Vermonters reach their full potential and build a brighter future for themselves, their families, and their communities.”
The Legislature established the Higher Education Endowment Trust Fund in 1999. Its annual distribution is based on investment performance, which the Treasurer’s Office reports each year to the Legislature. Over the past 25 years, the Fund has distributed over $30 million to support Vermont students.
In addition to the strong investment returns, the Fund will also benefit in future years from a historic contribution of $26 million from excess estate tax revenues. This contribution nearly doubles the Fund’s size, strengthening its ability to make higher education more affordable.
Last year the distribution for the Fund supported approximately 675 scholarships for Vermonters, each averaging $1,400, with approximately 73% of the scholarships being awarded to first generation students.
One recent UVM scholarship recipient shared how the support has impacted their future. “This year has been huge for me in terms of my academic and personal development, and this scholarship has played a big role in making everything happen. With your support, this past year I pursued research opportunities, internships, and even was able to fulfill my lifelong dream of studying abroad this spring. I am a first-generation low-income college student, and this funding has been incredibly important for myself and my family.”
UVM President Marlene Tromp, Ph.D., said, “The Higher Education Trust Fund helps make college possible for many UVM students. These resources allow us to support talented Vermonters, changing the trajectory of their lives and building a stronger future for our state. We are grateful to the State for its foresight in establishing the Fund and its continued commitment to expanding higher education opportunities to Vermonters.”
VSC Chancellor Beth Mauch emphasized that the Fund’s earnings help support students who strengthen Vermont’s workforce in critical fields. “The Higher Education Trust Fund provides essential tuition assistance for nursing students and others preparing to enter Vermont’s most in-demand job sectors. By investing in the education and training of these students, the Fund strengthens Vermont’s workforce, addresses pressing challenges such as healthcare access and affordability, and supports the long-term vitality of our communities.”
VSAC Vice President and Chief Operating Officer Patrick Leduc highlighted the critical role the Fund plays in creating opportunities for Vermont’s students. “Nearly all students who receive support from the Higher Education Endowment Trust Fund through VSAC are from modest-income households and are the first in their families to pursue education or training after high school—Vermonters who might not otherwise see those opportunities as within reach. At VSAC, we’re committed to helping every student find their path, strengthen our workforce, and build our communities. The Trust Fund plays a vital role in making that possible, and we’re grateful to the State for its continued investment in Vermont’s future.”
Read the full 2025 Higher Education Endowment Trust Fund report here.
10.10.2025. Montpelier, VT – Treasurer
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