2013 Vermont Statutes
Title 16 Education
Chapter 87 GRANTS, SCHOLARSHIP, 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 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 post-secondary education, as defined in the Internal Revenue Code.

(6) "Institution of post-secondary 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.)