Vermont Statutes
Chapter 87 - Grants, Scholarships, and Education Loan Programs
§ 2876. Definitions

§ 2876. Definitions
As used in this subchapter, except where the context clearly requires another interpretation:
(1) “Beneficiary” means any individual designated by a participation agreement to benefit from payments for qualified postsecondary education costs.
(2) “Benefits” means the payment of qualified postsecondary education costs on behalf of a beneficiary from a participant’s investment plan account.
(3) “Corporation” means Vermont Student Assistance Corporation.
(4) “Internal Revenue Code” means the federal Internal Revenue Code of 1986, as amended, together with the regulations promulgated pursuant to that Code.
(5) “Qualified postsecondary education costs” means the costs of tuition and fees for attendance at an approved postsecondary education institution, and other qualified higher education expenses as provided under 26 U.S.C. § 529.
(6) “Approved postsecondary education institution” means a postsecondary education institution as defined in section 2822 of this title.
(7) “Vermont Higher Education Investment Plan” or “Investment Plan” means one or more plans created pursuant to this subchapter.
(8) “Participant” means a person who has entered into a participation agreement pursuant to this subchapter intended for the payment of qualified postsecondary education costs on behalf of a beneficiary.
(9) “Participation agreement” means an agreement between a participant and the Corporation, pursuant to and conforming with the requirements of this subchapter. (Added 1997, No. 79 (Adj. Sess.), § 1, eff. July 1, 1997; amended 2001, No. 58, § 4, eff. June 16, 2001; 2019, No. 51, § 16, eff. Jan. 1, 2019; 2019, No. 154 (Adj. Sess.), § E.605.4, eff. Oct. 2, 2020.)

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