Higher Education Trust Fund Reports

Higher Education Trust Fund Reports

The Higher Education Trust Fund was established in the Office of the State Treasurer by the 1999 General Assembly (16 V.S.A. § 2885) to provide non-loan financial aid to Vermont students attending the University of Vermont, the Vermont State Colleges, and other Vermont post-secondary institutions. 

The statute provides that in August of each fiscal year, the State Treasurer is to withdraw up to 5% of the 12-quarter moving average of the Fund’s assets and divide the amount equally among UVM, the Vermont State Colleges, and the Vermont Student Assistance Corporation (VSAC). The amount appropriated, however, cannot exceed an amount that would bring the Fund balance below total contributions to principal.  The statute further provides that during the first quarter of each fiscal year, the Secretary of Administration and the Higher Education Subcommittee of the Prekindergarten–16 Council may authorize the State Treasurer to make an additional distribution of up to 2% of the Fund’s average assets available to UVM and the Vermont State Colleges for creating or increasing a permanent endowment fund. Like the 5% distribution, the amount appropriated cannot exceed an amount that would bring the Fund balance below total contributions to principal. Further, each institution is required to match the appropriation by raising private donations of at least twice the appropriated amount.  

Each year, the Treasurer's Office submits an annual report on the fund to the Secretary of Administration and the Subcommittee.  These reports are available below for ease of reference.