days left to lock in February prepaid tuition prices
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[February 20, 2010]
SPRINGFIELD -- Now is the time to save
for future college tuition and fees through the College Illinois!
529 Prepaid Tuition Program, according to the Illinois Student
Assistance Commission. That's because there are only 10 days left
until March prices take effect.
"February is Financial Aid Awareness Month in the state of Illinois,
and there are just 10 days left to take advantage of current
discounted prices on College Illinois prepaid tuition," said ISAC
Executive Director Andrew Davis. "With incentives to start saving
for college earlier, now is the time for families to explore prepaid
tuition as a means to save money for college while saving money on
Unlike a college savings plan, College Illinois is a
tax-advantaged plan that protects families from tuition inflation by
allowing purchasers to lock in a price now to cover future college
tuition and fees. A child born today is projected to incur college
costs of more than $180,000 at a four-year public university, but
parents and grandparents can sign a prepaid tuition contract today
for much less, negating the effect of tuition inflation on their
A College Illinois contract between the purchaser and the state
of Illinois ensures tuition and fee benefits for college, regardless
of fluctuations in the market. When a beneficiary is ready to go to
college, he or she can choose to attend almost anywhere because
benefits can be used at Illinois public universities and community
colleges or applied at most public and private institutions
Prepaid tuition benefits keep pace with the increases in tuition
and fees equal to those found at in-state public institutions.
Parents and grandparents can purchase as little as one semester at a
community college or up to nine semesters at a public university.
Various payment options are available, including monthly and annual
Prices adjust on the first day of each new month, so it pays to
purchase sooner rather than later. Parents and grandparents can
purchase this secure option for their child's educational future at
the lowest prices now. Current prices end Feb. 28.
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Administered by the Illinois Student Assistance Commission, the
College Illinois program is a secure college funding option because
benefits do not fluctuate with the stock market. Since the program's
inception in 1998, more than 66,000 prepaid tuition contracts with a
value of more than $1.6 billion have been purchased. The program's
trust fund is managed by professional money managers, subject to
oversight by the program's investment advisory panel and the
Illinois Student Assistance Commission.
To enroll in the College Illinois program, visit
www.529prepaidtuition.org or call 877-877-3724 toll-free for
program information, materials and enrollment guidelines.
[Text from Illinois Student
Assistance Commission file received from
Illinois Office of
Communication and Information]