VSAC

What VSAC does

VSAC (Vermont Student Assistance Corporation) is a nonprofit corporation chartered by the State of Vermont and headquartered in Winooski, Vermont, operating since 1965 with 101-250 employees. The organization provides a comprehensive suite of student financial aid services to Vermont students and families, including education loans (undergraduate, graduate, parent, and refinance) with fixed rates of 4.25%-8.68% APR, the VT529/VHEIP education savings program powered by Vestwell (covering $400M+ in qualified expenses for 13,000+ families since 1999), scholarship administration ($5.8M annually to ~3,000 recipients), and free FAFSA support. VSAC also administers the GEAR UP federal college readiness program for 2,200+ students, the Green Mountain Job Retention Program with the State of Vermont and UVM, workforce development funding for healthcare/trades/National Guard careers, and tuition-free programs at CCV and Vermont State University.

The underlying technology platform combines web-based financial aid processing, loan servicing, scholarship administration, and the 529 savings infrastructure, augmented by the AI-powered Award Advisor app that automates scanning and comparison of financial aid award offers. VSAC's technology backbone relies on a strategic partnership with Vestwell for all three Vermont state savings programs (529, auto-IRA, ABLE disability savings), giving it consolidated platform access. Marketing and outreach span a direct-to-consumer and community-led GTM: vsac.org, a phone support line, school counselor networks, GEAR UP coordinators, professional development events, a YouTube channel, a podcast, and free publications.

VSAC's business model is hybrid: interest income on originated education loans, administrative fees on the 529 program, scholarship administration services, and substantial federal/state grant funding (including a $31M GEAR UP grant from 2025-2032). Customer segments are distributed across Vermont students (high school, adult, graduate), first-generation and modest-income families, parents, refugees and new arrivals, education professionals, and workforce seekers. As Vermont's designated student assistance corporation, VSAC holds a quasi-governmental role that creates a regulatory moat unavailable to private competitors.

Name

VSAC

Legal name

Vermont Student Assistance Corporation

Website

https://vsac.org

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

101–250 employees

Short description

VSAC is Vermont's state-chartered nonprofit student assistance corporation that provides education loans, the VT529 savings plan, scholarships ($5.8M annually), grants, and career counseling to Vermont students, families, and adult learners since 1965.

Ownership category

akta.pro rank

Product category

Education Financial Services

NAICS

Educational Support Services (611710), Educational Services (611)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Personal Credit Institutions (6141)

akta.pro primary industry

Student Loan Programs & Servicers (Public/Nonprofit) (EDADAHAE)

akta.pro secondary industries

Education Funding Planning (College/529) (FSAEAAAF), Financial Literacy, Debt Counseling & Default Prevention (EDALAJAK)

Keywords

• Education loan services
• Student financial aid
• 529 college savings
• Scholarship administration
• Workforce development funding

Headquarters

HQ city

Winooski

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Student Loans: VSAC offers education loans for undergraduate, graduate, and professional students and parents with fixed interest rates ranging from 4.25% to 8.68% APR. The organization also offers student loan refinance products. Revenue is generated through interest payments on originated loans.
2. Scholarship Administration: VSAC administers approximately $5.8 million in scholarships annually to approximately 3,000 Vermonters through the Vermont Scholarship Fund (a 501(c)(3) charitable affiliate). While scholarships are donor-funded, administration fees and donor engagement represent a revenue component.
3. 529 Education Savings Program (VT529/VHEIP): VSAC powers Vermont's 529 Education Savings Program in partnership with Vestwell, covering over $400 million in qualified education expenses for more than 13,000 students and families since 1999. Revenue is derived from program management and administrative fees associated with the savings plans.
4. Federal Grants (GEAR UP): VSAC received a $31 million federal GEAR UP grant from the U.S. Department of Education to support college and career readiness initiatives for over 2,200 middle and high school students annually from 2025 to 2032. These are grant funds directed toward program delivery rather than earned revenue.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

VSAC provides education loans, student loan refinancing, Vermont's official 529 education savings program (VT529/VHEIP), scholarship and grant administration, free FAFSA assistance, college and career planning resources, and workforce development funding for Vermont students and families. The organization also runs the AI-powered Award Advisor app, the federal GEAR UP college readiness program, and free tuition programs (802Opportunity at CCV and Freedom & Unity at Vermont State University).

Product overview

VSAC (Vermont Student Assistance Corporation) is a nonprofit organization that provides a comprehensive suite of financial aid and education services for Vermont students. The product portfolio centers on helping students save, plan, and pay for college and career training through multiple integrated offerings. The core products include education loans (undergraduate, graduate, parent, and refinance options with rates from 4.25% to 8.68% APR), the VT529 education savings program powered by Vestwell, and various grant and scholarship programs totaling nearly $5.8 million annually. VSAC offers workforce development funding for tuition-free training in healthcare, trades, and National Guard fields. The organization runs the GEAR UP college readiness program and the Green Mountain Job Retention Program to address Vermont's demographic challenges. Key digital products include the Award Advisor AI app for comparing financial aid offers, the VSAC Podcast for education resources, and specialized support programs for Afghan refugees and other underserved populations. The offerings serve students at all stages—from high school planning through loan management—along with education professionals and employers.

Differentiator

Problem solved

Functional benefit

Brands

• VT529 / VHEIP: Vermont's official 529 Education Savings Program for college and training
• Award Advisor
• VSAC Aspirations
• Green Mountain Job Retention Program
• VSAC Senior Survey

Products and services

• VSAC Education Loans Fixed-rate education loans for undergraduate, graduate, and professional students as well as parents, with interest rates ranging from 4.25% to 8.68% APR. Used by Vermont students and families to finance higher education and career training.
• VSAC REFI (Student Loan Refinance) Refinancing product for existing student loans, allowing borrowers to simplify payments or secure a lower interest rate.
• VT529 / VHEIP (Vermont Higher Education Investment Plan) Vermont's official 529 Education Savings Program powered by Vestwell, helping families save for college and training expenses. Has covered $400M+ in qualified education expenses for 13,000+ families since 1999.
• Award Advisor App AI-powered mobile application that enables families to scan, upload, and compare financial aid award offers from multiple colleges and universities, automatically breaking down aid components for comparison.
• Workforce Development Funding Tuition-free training programs for careers in critical job fields including healthcare, trades, and National Guard programs. Available to Vermont adults seeking career training.
• GEAR UP Program Federal grant program supporting college and career readiness for over 2,200 middle and high school students annually, targeting first-generation and modest-income students in rural and underserved Vermont communities. Funded by a $31 million grant from 2025 to 2032.
• Green Mountain Job Retention Program Workforce retention program awarding stipends to recent Vermont graduates who commit to living and working in Vermont for two years. In 2025, $845,000 in stipends were awarded to 169 recent graduates.
• 802Opportunity (Free Tuition at CCV) Free tuition program at the Community College of Vermont (CCV) for eligible Vermont students.
• Freedom & Unity Scholarship (Free Tuition at Vermont State University) Free tuition program at Vermont State University for eligible Vermont students.
• Vermont Scholarship Fund 501(c)(3) charitable affiliate of VSAC that administers approximately $5.8 million in scholarships annually to approximately 3,000 Vermonters, funded by individual donors and philanthropic sources.

Quantifiable outcome

• Over 2,200 students served annually through the GEAR UP program with a goal of improving college enrollment and graduation rates
• +3 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• State of Vermont and UVMcoreStrategic or Co-development Partner · 2 November 2025The Green Mountain Job Retention Program is a collaboration between the State of Vermont, the University of Vermont (UVM), and VSAC. The program awards stipends to recent Vermont graduates who commit to living and working in Vermont for two years, addressing Vermont's demographic challenges through financial incentives. In 2025, the program awarded $845,000 in stipends to 169 recent graduates, with nearly half being UVM graduates. Over 400 students are currently involved.
• VestwellcoreTechnology or Integration · 20 February 2025Vestwell partnered with VSAC to power Vermont's 529 Education Savings Program (VT529), which has covered over $400 million in qualified education expenses for more than 13,000 students and families since 1999. The expanded partnership means Vestwell now powers all three of Vermont's state savings programs, including the existing VTSaves auto-IRA and Vermont ABLE disability savings programs. Vestwell currently serves 1.5 million consumers across 350,000 businesses with $30 billion in assets under management.
• Vermont Agency of Human ServicesminorStrategic or Co-development Partner · 3 August 2024VSAC received a $50,000 grant from the Vermont Agency of Human Services to support Afghan refugees in Vermont by providing education and career counseling. The grant funded services including travel assistance, translation, and career planning for hundreds of recent Afghan arrivals, helping them leverage educational and employment opportunities in Vermont.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Rhode Island Student Loan Authority (RISLA): Rhode Island's quasi-state student loan authority offering fixed-rate education loans, loan refinancing, and college planning. Closely comparable to VSAC given the small-state, agency-led model with a focused lending franchise.
• Massachusetts Educational Financing Authority (MEFA): Massachusetts' designated state student assistance authority offering education loans, 529 savings plans (U.Fund), and college planning resources. Most direct functional and structural analog to VSAC: same mission, same quasi-governmental status, and overlapping product set in a neighboring New England state.
• New York State Higher Education Services Corporation (HESC): New York's state student financial aid agency administering TAP grants, federal loan servicing, and 529 plans. Functionally analogous to VSAC with comparable quasi-governmental product structure, but serving a much larger population.
• Connecticut Higher Education Supplemental Loan Authority (CHESLA): Connecticut's state-chartered supplemental student loan authority. Comparable to VSAC's lending-focused role within a small-state, quasi-governmental framework and a similar New England customer base.
• New Jersey Higher Education Student Assistance Authority (HESAA): New Jersey's state student aid agency operating NJCLASS loans, 529 plans (NJBEST), and grant administration. Closely mirrors VSAC's integrated loans-plus-savings-plus-counseling model.
• Granite State Management & Resources (New Hampshire): New Hampshire's nonprofit student loan servicer and secondary-market administrator. Comparable to VSAC in scale and regional scope, with a similar nonprofit/agency-adjacent structure and education-loan servicing focus.
• Pennsylvania Higher Education Assistance Agency (PHEAA): Pennsylvania's state-affiliated student aid agency administering grants, loans, and 529 plans (PA 529). Comparable to VSAC in mission and product breadth, but operating at significantly larger scale across a more populous state.

Broad incumbents

• Ascensus: Leading third-party administrator of 529 college savings plans, ABLE programs, and retirement accounts, serving multiple states. Comparable to VSAC's 529/VHEIP administration function as the back-end operating partner for many state plans.
• SoFi: National digital lender offering student loan refinancing alongside broader consumer banking. Competes with VSAC's refinance product from a tech-forward, scaled platform with national marketing reach.
• Sallie Mae: Largest U.S. private student loan originator and servicer with a national direct-to-consumer brand. Overlaps with VSAC's education loan and refinance products but at vastly larger scale and with a private (rather than state-chartered) model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCiN4z5A6QS7cya9BHzx3rPg
• Xx.com/vsac

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VSAC