Montpelier, VT – Today, Treasurer Mike Pieciak announced his office will distribute $1.7 million to the University of Vermont (UVM), the Vermont State Colleges (VSC), and the Vermont Student Assistance Corporation (VSAC) to support Vermonters seeking a higher education degree. The funds come from investment earnings on the state’s Higher Education Trust Fund, which is managed by the Treasurer’s Office and provides grants for Vermonters pursuing a degree from local colleges and universities.
“The best thing we can do to grow our economy and move our state forward is invest in Vermonters. Far too many Vermonters can’t afford to pursue higher education, while many are burdened by student debt, holding back our workforce and economy,” said Treasurer Pieciak. “The Higher Education Trust Fund helps make higher education more affordable for Vermonters, serving as a long-term investment in our state’s future. This year’s strong returns have allowed our office to make one of the largest distributions in its history.”
Established by the Vermont Legislature in 1999, the Fund’s yearly distribution depends on its investment performance, which the Treasurer’s Office reports annually to the legislature by September 30. The distribution is evenly split between UVM, VSC, and other Vermont post-secondary institutions through VSAC.
In fiscal year 2024, the Fund posted a 10.2% gain, allowing a total distribution of $1,702,704. Accordingly, UVM, VSC, and VSAC will each receive $567,568 this year for non-loan tuition assistance to Vermont students.
Since its establishment, the Higher Education Trust Fund has earned over $30 million—all of which has been reinvested or distributed to support Vermonters obtaining a higher education degree. The Fund’s balance currently stands at $35,054,943.
“The Higher Education Trust Fund is government working at its best, demonstrating how effective investment of taxpayer dollars can create long-term benefits. I want to thank the legislature for their great foresight in establishing the Fund, which puts tax dollars to work to help Vermonters reach their full potential.”
Read the full 2024 Higher Education Trust Fund Report here.
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