Burlington, VT - Today Treasurer Mike Pieciak announced his office will distribute $920,823 from the Higher Education Trust Fund to support Vermonters seeking a higher education degree.
The General Assembly established the Higher Education Trust Fund in the Office of the State Treasurer in 1999 to provide non-loan financial aid to Vermont students attending the University of Vermont, the Vermont State Colleges, and other Vermont post-secondary institutions through the Vermont Student Assistance Corporation (VSAC).
“As the cost of higher education has skyrocketed over the last two decades, the legislature had great foresight to set aside funds dedicated to supporting Vermont students,” said Treasurer Pieciak. “Long term investments like these in our education institutions and our youth are critical to supporting Vermont’s long term economic health.”
Each year by September 30, the Treasurer is required to submit a report to the Legislature analyzing the Fund’s performance during the prior fiscal year. The Fund’s annual distribution amount is dependent on the investment gains or losses during that year.
The Fund’s portfolio posted a gain of 8.6% during fiscal year 2023, allowing a total distribution of $920,823. Accordingly, the University of Vermont; the Vermont State Colleges; and the Vermont Student Assistance Corporation will each receive $306,941 for non-loan financial aid to Vermont students.
The Fund balance currently stands at $33,237,367. Over the last 25 years, the Fund has earned $26,699.335, all of which has been distributed to support Vermonters obtaining a higher education degree.
Read the full 2023 Higher Education Trust Fund report here.