Fund pays out $3.4m for higher education

October 12, 2026  |  By Waterbury Roundabout

UVM's George D. Aiken Center and campus view. Photo courtesy of UVM

Vermont state Treasurer Mike Pieciak recently announced a record $3.4 million in awards for Vermont students from the state’s Higher Education Endowment Trust Fund.

The payout marks the second straight year that the fund has earned a record-breaking distribution—up significantly from $2.6 million in FY25.

The University of Vermont, the Vermont State Colleges and the Vermont Student Assistance Corporation will distribute $2.4 million of the funds for non-loan tuition assistance for Vermont students. The remainder will contribute to the endowments of UVM and VSC.

“The Higher Education Endowment Trust Fund is a direct investment in Vermont's future, supporting life-changing opportunities for students and powering our economy by filling critical workforce gaps,” Pieciak said. “As other sources of financial aid dwindle, we must protect and invest in the fund to keep higher education within reach for Vermonters.”

The Legislature established the endowment in 1999 to make higher education more affordable for Vermonters and strengthen the state’s workforce. The annual distribution is based on investment earnings, reported by the Treasurer’s Office annually. In FY26, the fund earned a 14.6% return.

The fund plays an important role in making higher education accessible for students who might not otherwise be able to afford it. A recent study found that Vermonters pay more toward their student loans each month than borrowers in any other state.

During the 2025-26 academic year, endowment earnings supported 1,227 scholarships for more than 800 students, averaging nearly $1,900 per award. About 70% of scholarships were awarded to first-generation college students and 79% went to students who qualify for federal needs-based tuition assistance.

UVM President Marlene Tromp said the endowment is a resource that helps Vermonters reach their potential. “It benefits our students and institutions to empower learning and workforce development to literally change lives and make dreams a reality,” she said.

The fund is a long-term investment in Vermont's economy, supporting the next generation of workers in fields like education, health care, behavioral sciences, and STEM.

VSCA President and CEO Scott Giles noted that high-wage, high-demand jobs require education or training after high school.  “The higher education endowment trust fund scholarships open doors of opportunity to low- and modest-income students that would otherwise be closed to them,” he said. “This is a huge win for these students and for Vermont’s workforce development strategy.”

VSC Chancellor Beth Mauch agreed. “These scholarships will turn the dream of a good-paying job into a reality for many Vermont students at Community College of Vermont and Vermont State University,” she said. “When we make higher education more accessible and affordable, our entire state benefits.”

Read the 2026 Higher Education Endowment Trust Fund report here.