I still have 1 year left on my contract, what are my options to upgrade?

I have an iPhone 5S that I purchased last October. I still have 1 year left to go before I am out of the contract. I really want the new iPhone 6 Plus, mostly because of the bigger screen. What are my options? I read you can trade-in an iPhone 5S and get $300 credit or it will go towards the purchase of a new phone (iPhone 6 Plus) + 2 year contract. Is this possible? If not, what are my options for ditching this phone? Can you ditch the phone itself (and upgrade it) while still keeping the contract you are currently under? Maybe I can turn in my phone for the credit towards the new phone, and still be 1 year into the contract?
Sorry I find all the upgrade info confusing

In short the only option you have is trade in your 5s for the $300 gift card and the buy the 6+ for $749.99 if you're getting the 16GB model, you won't be able to get the discounted pricing for that phone unless you add a line to your account or you're eligible for an upgrade which as you have said you're not.

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