§ 2880c. Initial deposits to the Program Fund
(a) Each year, the Corporation shall deposit $250.00 into the Program Fund for each eligible child born that year, beginning on or after January 1, 2016.
(b) In addition, if the eligible child has a family income of less than 250 percent of the federal poverty level at the time the deposit under subsection (a) of this section is made, the Corporation shall make an additional deposit into the Program Fund for the child that is equal to the deposit made under subsection (a).
(c) Notwithstanding subsections (a) and (b) of this section, if the available funds in a given calendar year are insufficient to provide for the maximum deposits under this section, the Corporation shall prorate the deposits accordingly. (Added 2015, No. 45, § 2.)
Structure Vermont Statutes
Chapter 87 - Grants, Scholarships, and Education Loan Programs
§ 2821. Student Assistance Corporation; purpose
§ 2827. Confidentiality of personally identifying information
§ 2832. Organization and compensation
§ 2835. Controls, audits, and reports
§ 2843. Applications, certificates, and reports
§ 2844. Amount received; proration
§ 2845. Trust fund; grants; students in Department for Children and Families custody
§ 2854. Amount; number; disbursement
§ 2857. Vermont National Guard Tuition Benefit Program
§ 2867. Reserve and pledged equity funds
§ 2868. Notes, bonds, and other obligations
§ 2869. Loan cancellation; mathematics, science, and computer science teachers
§ 2877. Vermont Higher Education Investment Plan created
§ 2878. Participation agreements for Investment Plan
§ 2878a. Participation agreements for Investment Plan; Vermont Matched Savings Program
§ 2879. Investment and payments
§ 2879a. Cancellation of participation agreements
§ 2879b. Effect of payments in computation and determination of financial aid need
§ 2879d. Property rights to assets in the Plan
§ 2879e. Construction and application
§ 2880b. Vermont Universal Children’s Higher Education Savings Account Program Fund
§ 2880c. Initial deposits to the Program Fund
§ 2880e. Withdrawal of Program funds
§ 2880f. Rights of beneficiaries and their families