College debt is one of the leading causes of debt in the U.S. Officials say that’s why it’s important to start saving as soon as possible. A new promotion by Vermont Students Assistance Corporation called “802 Future You” wants to help young Vermonters save and start thinking about their future.
“Every dollar you save, the interest is in your favor and every dollar you borrow you’re paying interest on. So, it’s always better to save if you can,” said Vice President of Financial Aid Services, Marketing and Research Marilyn Cargill.
VSAC’S “802 Future You” program will give students and families the chance to win dinners and money towards a college saving account called the 529 plan. For the next 5 weeks, 2 students per week and their families will have the chance to win $50 in takeout to their favorite local restaurant. At the end of 5 weeks 9 students will win $200 towards a college savings account.
An additional participant will win a grand prize of $529 in education savings.
“When families save even a small amount of money it means that students are three times more likely to go onto education beyond high school. And this is a way that we thought would be fun to get students really involved in thinking about their future,” said Cargill.
To enter the giveaway students in pre-K- grade 6 can draw a picture of a job they are curious about or something they want to be when they grow up. Then parents or guardians should take a picture and upload the picture to social media with the students name and grade. They should then tag @802vsac and #802future you.
“It’s a totally random drawing we are not trying to pick the best picture. It’s not a competition. It’s just a fun way to get students excited about their future,” said Cargill.
The giveaway will run until October 23rd and you can enter anytime throughout the next five weeks. Pictures can also be submitted through email or mailed to VSAC.
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