Deadline Approaching for College Illinois! Signup
Published on April 16 2013 5:58 pm
Last Updated on July 14 2013 4:07 pm
Written by Greg Sapp
Illinois parents have only two weeks to sign up for the College Illinois! 529 Prepaid Tuition Program before the current enrollment period ends April 30. The College Illinois! program allows families to prepay for college years in advance at significantly lower cost.
“With ever rising costs of higher education, College Illinois! offers parents a great opportunity to plan ahead and make college more affordable for their kids,” said Eric Zarnikow, Executive Director of the Illinois Student Assistance Commission, which administers the program. “We’re urging parents to seize the day and sign up for College Illinois!, or talk to one of our advisers now, before the enrollment period closes.”
“For as little as $44 per month, parents, grandparents or guardians can start on the path to a prepaid college education for their children.”
Zarnikow noted that a child born today is projected to incur college costs of as much as $180,000 to attend an Illinois four-year public university. College Illinois! allows families to lock in a lower price today to cover the expense of future tuition and fees.
Hundreds of Illinois parents and grandparents have signed up for College Illinois! since the current enrollment period opened in October 2012.
Since inception in 1997, College Illinois! has paid more than $400 million in tuition and fees and helped tens of thousands of Illinois families make postsecondary education more affordable. A College Illinois! prepaid tuition contract also offers tax advantages including state income tax deductions, tax-free growth and exclusions from federal Gift Taxes. While about 75 percent of College Illinois! beneficiaries have opted to attend college in Illinois, the program’s benefits can be used at nearly all public and private colleges throughout the country.
College Illinois! offers various plans which let purchasers choose a pricing option that best fits their financial needs. For additional information about ISAC’s College Illinois! Prepaid Tuition Program, please visit www.prepayandsave.org, www.529prepaidtuition.org or call 877-877-3724.