Virginia College Savings Plan
To ensure maximum financial benefit from your VPEP when receiving scholarships or grants designated for tuition only, consideration should be given to the level of benefits being accessed. You may want to contact the Virginia College Savings Plan Office (1-888-567-0540) to review plan options for covering other non-tuition educational costs such as room and board.
If you are a participant in the Virginia College Savings Plan program, there are two ways to have your tuition paid:
- 1. VPEP - (In-state tuition and fees only). Participants must submit an "Intent to Enroll" form to the Virginia College Savings office in Richmond. A list of participants in the VPEP program is sent to us from the VCSP office prior to the start of classes for fall and spring semesters. A pending credit will be placed on your student account until payment is received. (Students wanting to use VPEP/VEST benefits for summer classes should contact the Virginia College Savings Plan Office in Richmond toll free at 1-888-567-0540 to discuss summer payment options). Our office will send an invoice to the Richmond Office after the last day to add classes for the semester.
- 2. VEST - If you are a VEST participant or you roll your investment from the VPEP plan to the VEST plan, payment will be sent to Virginia Tech after you have sent your Distribution Request Form to the Virginia College Savings Plan office in Richmond. You must indicate on the Distribution Request Form the amount you are requesting to be paid from VCSP to VT. Tuition and fee costs for each semester are listed on our website. You should send a distribution request form to the Virginia College Savings Plan office each semester to have payment sent to us. If you also mail or fax (540/231-3238) a copy of your distribution request form to our office when you send it to the Richmond office, a pending credit will be entered on the student account for the amount of the request. The "School" Identification Number requested on the VEST distribution request form is the student's Virginia Tech ID number.
Since payment from the VEST plan may be received near or after the payment deadline, students could receive a late fee or hold if a copy of the request form has not been received by our office prior to the payment deadline. A "hold" simply means that the student cannot access their account on the Hokie SPA to view their student account or make changes to their class schedule. If you receive a hold on your account you should contact Nina Wilburn in the Office of the University Bursar e-mail email@example.com or call 540/231-6277.
Electronic billing notifications will be sent to you monthly showing any new account activity and the pending credit until the actual payment is received from VCSP. If you are a VEST participant and have already sent us a copy of your distribution request form for the semester, you should pay any additional amount you owe not covered by the pending credit from your VEST account.
If you have a pending credit for VPEP and then decide to roll to the VEST program the Virginia College Savings Plan office will notify our office and we will remove the VPEP pending credit. If you provide our office with a copy of the VEST distribution request form you send to Richmond we can enter a pending credit until the VEST payment is received. If you have questions as to whether you should remain with VPEP or roll to VEST you should contact the Virginia College Savings Plan office directly to discuss your options.
Questions regarding participation in the program should be directed to Robin Low at the Virginia College Savings Plan office: RLow@virginia529.com or 1-888-567-0540. You may also view the Virginia College Savings Plan website to obtain additional information.