The state of Illinois is encouraging new parents and grandparents to consider its College Illinois 529 prepaid tuition plan, which locks in today’s college tuition rates at state colleges, as a way to save on rising tuition.
The state of Illinois is encouraging new parents and grandparents to consider its College Illinois 529 prepaid tuition plan, which locks in today’s college tuition rates at state colleges, as a way to save on rising tuition.
“Since College Illinois is a 529 prepaid plan, you’re not saving money for college – you’re actually saving money on college,” said Illinois Student Assistance Commission Executive Director Andrew Davis. “To get the maximum benefit, you have to start early and lock in a child’s college education at today’s tuition prices.”
Some economists said with the way the economy is going, a college savings plan such as the College Illinois plan, may be the only way many parents – especially the middle class – will be able to finance a college education 10 to 20 years down the road.
______
To read the rest of this article, subscribe to our digital or paper edition. For previous editions, contact us for details.
Copyright 2009 Chicago Defender. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
About Post Author
