Vermont Student Assistance Corporation
Encyclopedia
The Vermont Student Assistance Corporation (VSAC) is a nonprofit
public corporation
that was created by the Vermont
Legislature in 1965 to provide citizens of Vermont with the information and financial resources they need to pursue education or training beyond high school. VSAC provides "one-stop" delivery of higher education services including: career, college, and financial aid information and counseling state grants for full-time, part-time, and non-degree study administration of, or information about, dozens of scholarships available to Vermonters low-interest federal loans for students and parents and the Vermont Higher Education Investment Plan.
VSAC administers a summer employment program for eligible students and provides financial aid services for 10 Vermont post-secondary institutions
. VSAC employs 350 people and is governed by an 11-member Board of Directors. Five of the members are appointed by the Governor
, two are legislative members, one is the State Treasurer, and the remaining three are chosen by the Board itself.
The Vermont appropriations for fiscal year 2009 contains $19,153,758
for VSAC.
Non-profit organization
Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...
public corporation
Government-owned corporation
A government-owned corporation, state-owned company, state-owned entity, state enterprise, publicly owned corporation, government business enterprise, or parastatal is a legal entity created by a government to undertake commercial activities on behalf of an owner government...
that was created by the Vermont
Vermont
Vermont is a state in the New England region of the northeastern United States of America. The state ranks 43rd in land area, , and 45th in total area. Its population according to the 2010 census, 630,337, is the second smallest in the country, larger only than Wyoming. It is the only New England...
Legislature in 1965 to provide citizens of Vermont with the information and financial resources they need to pursue education or training beyond high school. VSAC provides "one-stop" delivery of higher education services including: career, college, and financial aid information and counseling state grants for full-time, part-time, and non-degree study administration of, or information about, dozens of scholarships available to Vermonters low-interest federal loans for students and parents and the Vermont Higher Education Investment Plan.
VSAC administers a summer employment program for eligible students and provides financial aid services for 10 Vermont post-secondary institutions
Higher education
Higher, post-secondary, tertiary, or third level education refers to the stage of learning that occurs at universities, academies, colleges, seminaries, and institutes of technology...
. VSAC employs 350 people and is governed by an 11-member Board of Directors. Five of the members are appointed by the Governor
Governor of Vermont
The Governor of Vermont is the governor of the U.S. state of Vermont. The governor is elected in even numbered years by direct voting for a term of two years; Vermont and bordering New Hampshire are the only states to hold gubernatorial elections every two years, instead of every four...
, two are legislative members, one is the State Treasurer, and the remaining three are chosen by the Board itself.
The Vermont appropriations for fiscal year 2009 contains $19,153,758
for VSAC.