 College Illinois! Pay
today's prices for tomorrow's education
Families wanting to invest in their children's future college
education at today's prices have until April 29, 2008, to
participate in the 10th annual enrollment period for College
Illinois, the state's prepaid tuition program.
College Illinois is completely tax-exempt in Illinois, and its
designation as a 529 program ensures that contract earnings are also
exempt from federal income tax.
Different plans are available and can be purchased with a
lump-sum payment or monthly installments. Contributors can purchase
from one semester up to nine semesters, and benefits can be used at
any community college and university, public and private, in the
nation. Once a plan is purchased, anyone -- grandparents, relatives,
family friends -- can make a payment on behalf of the beneficiary.
Since the program was established in 1997, more than 57,000
prepaid tuition plans, representing nearly 180,000 years of college
tuition, have been purchased.
Information and applications are available by visiting
collegeillinois.com or
by calling toll-free, 1-877-877-3724.
[to top of second column]
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 Governor has not yet approved extra school funding
At the end of last week, Illinois schools were still waiting to
hear when they will start receiving extra state funding. Lawmakers
approved legislation Nov. 2 needed to implement parts of the state
budget that allocate $550 million to the more than 700 school
districts in Illinois. The governor had not signed the legislation
as of early Friday afternoon.
The education funding increase was initially approved during the
summer overtime session; however, infighting among Democratic
legislative leaders delayed legislative action that would have
released the money to the school districts.
The legislation increases the state's general state aid
foundation level by $400, to a total of $5,734 per pupil, and fully
funds categorical grants for special education, low-income lunches
and transportation.
[Text from file received from
Sen.
Bill Brady]
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