College Illinois!® 529 Prepaid Tuition Program Announces New, Reduced Pricing To Help Make College More Affordable For Illinois Families

News provided by

Oct 17, 2014, 02:40 ET

DEERFIELD, Ill., Oct. 17, 2014 /PRNewswire/ -- College Illinois!®, the state's only 529 prepaid tuition program, announced today that it will be opening enrollment on November 18^th with new and reduced pricing for all program options. Reduced pricing will offer Illinois families a unique and even more affordable option in planning for the cost of college.

With reduced pricing, a variety of flexible options, and great tax advantages, College Illinois! can help take the worry out of paying for college so families can focus on what's really important-- spending quality time with their children and grandchildren.

"We know the cost of college can be so overwhelming for families that addressing it early on actually becomes less of a priority," said Sandra Houston, Director of College Illinois!. "Our new flexible, lower-priced plan options are designed to make it less daunting and more affordable to take the first step, no matter how small, and to encourage families to start planning for the cost of college when their children are young."

A 529 prepaid tuition plan offers a way to prepay future college tuition at today's contract rates. Because rates are locked in at the time of purchase, a prepaid tuition plan can help protect against tuition inflation. The Program's many plan options allow families to choose the number of semesters they would like to purchase, and benefits can be used at almost any public or private college or university within Illinois or across the nation. Families can enjoy time with their children, truly being in the moment, knowing that tuition benefits will be there when it's time for college.

The new College Illinois! contract prices are now more specifically aligned to the age of the child when the contract is purchased: the younger the child, the more families can save on the purchase of a prepaid tuition plan. Every College Illinois! plan, however, offers the advantages of reduced pricing, a variety of payment options and great tax benefits.

Some recent contract purchasers may be eligible for a price adjustment as a result of new price reductions. Additional information is available on the Program's website.

Over 28,000 students have already attended college using College Illinois! benefits, and more than 10,000 students a year use their benefits to pay for college. For more information on how to join the thousands of families who enjoy peace of mind of knowing that they have taken care of college tuition, and to take advantage of new price reductions when enrollment opens on November 18^th, visit www.collegeillinois.org.

About College Illinois!

Since its inception in 1998, College Illinois! has been focused on providing an affordable option to help make college a reality for Illinois families. Administered by the Illinois Student Assistance Commission, the state's 529 prepaid tuition program offers a unique set of benefits, including tuition inflation protection, flexibility, and significant tax benefits. Program assets, which are held in the Illinois Prepaid Tuition Trust Fund and kept separate from other state public money or funds, are professionally managed by an experienced team led by a Chief Investment Officer and established third party asset managers. More information on plan options and benefits, as well as a complete description of terms and conditions of, and risks associated with the purchase of a contract, is available at www.collegeillinois.org.