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Searching 2017-2018 Session

The Vermont Statutes Online

Title 16 : Education

Chapter 087 : GRANTS, SCHOLARSHIP, AND EDUCATION LOAN PROGRAMS

Subchapter 007 : VERMONT HIGHER EDUCATION INVESTMENT PLAN

(Cite as: 16 V.S.A. § 2876)
  • § 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 postsecondary education costs at an institution of postsecondary education.

    (2) "Benefits" means the payment of qualified postsecondary education costs on behalf of a beneficiary by the Corporation's Investment Plan during the beneficiary's attendance at an institution of postsecondary education.

    (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 thereunder.

    (5) "Postsecondary education costs" means the qualified costs of tuition and fees and other expenses for attendance at an institution of postsecondary education, as defined in the Internal Revenue Code.

    (6) "Institution of postsecondary education" means an institution as defined in the Internal Revenue Code.

    (7) "Vermont Higher Education Investment Plan" or "Investment Plan" means the program created pursuant to this subchapter.

    (8) "Participant" means a person who has entered into a participation agreement pursuant to this subchapter for the advance payment of 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.)