JB Pritzker, Governor, State of Illinois

College Illinois!® 529 Prepaid Tuition Program To Host Deerfield Open House

Tuesday, January 12, 2010

Parents can ask questions, get literature, and enroll

DEERFIELD, Ill.— The Illinois Student Assistance Commission, the state agency whose mission is to make college accessible and affordable for all Illinois students, will host a College Illinois!® 529 Prepaid Tuition Program Open House from 5 p.m. to 7:30 p.m. on Tuesday, January 19, at 1755 Lake Cook Road in Deerfield, Illinois.

During the open house, parents can get general information about the program or meet one-on-one with a representative to learn how the College Illinois! 529 Prepaid Tuition Program can help them avoid tuition inflation and achieve their financial goals related to ensuring their children’s college education. Representatives will review the available plans, go over the pricing schedule and explain the flexible payment options. Parents will have the chance to ask specific questions and get the information they need to purchase a College Illinois! 529 Prepaid Tuition Program plan that fits their family’s financial and educational needs.

“There is so much to know and so many questions to ask. The open houses are popular because they offer parents and grandparents the opportunity to have their questions answered in one-on-one settings,” said Tonya Polk, sales and marketing manager of the College Illinois! 529 Prepaid Tuition Program.

Registration is encouraged, but walk-ins are welcome. However, space is limited for the one-on-one sessions. To schedule a one-on-one appointment, email ISAC.529info@isac.illinois.gov.

The College Illinois! 529 Prepaid Tuition Program is the state’s only program that lets families avoid tuition inflation. Unlike a college savings plan, the College Illinois! 529 Prepaid Tuition Program is a tax-advantaged way to protect families from tuition inflation by allowing purchasers to lock-in a price now to cover future tuition and fees and apply benefits at colleges nationwide. 

For more information about the College Illinois! 529 Prepaid Tuition Program or to download guidelines and enrollment materials, visit www.529prepaidtuition.org/ or call 877-877-9724.

Administered by the Illinois Student Assistance Commission, the College Illinois! 529 Prepaid Tuition 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. ISAC’s commissioners are responsible for the overall management of the program and its investments, including hiring a qualified slate of investment managers and other professionals.

More about College Illinois! 529 Prepaid Tuition Pricing and Plans

A tiered pricing system called SmartChoice, introduced in 2008, makes plans more affordable than ever before. SmartChoice pricing provides three distinct price and benefit levels (Community College, University and University+) with different payment options. The plans are completely flexible and let the purchaser choose a pricing option that best matches their financial needs and realities. Combination plans including four semesters at a community college and four semesters at a university level are also available. Various payment options include monthly and annual installments and multiple down payment levels. In addition, program beneficiaries can choose to attend college anywhere because benefits can be used outside of the state at public and private institutions nationwide.

Upon purchasing a contract, Illinois taxpayers can annually deduct up to $10,000 per individual or $20,000 for married couples filing jointly, and all plan earnings are exempt from state and federal taxes. Neither ISAC nor the College Illinois! 529 Prepaid Tuition Program can provide legal or tax advice. Please consult a professional tax advisor concerning federal and state tax implications before purchasing a contract.

To enroll in the College Illinois! 529 Prepaid Tuition Program, visit www.529prepaidtuition.org/, or call (877) 877-3724 for program information, materials and enrollment guidelines.

About the Illinois Student Assistance Commission:

The Illinois Student Assistance Commission provides students of all ages and backgrounds with the resources and support to obtain financial aid for higher education. A state agency, ISAC has paved the path to post-secondary education with innovative programs for more than 50 years. Last year alone, ISAC continued its mission to make college accessible and affordable for Illinois students by issuing over 186,000 grants and scholarships totaling nearly $431 million.

The Commission provides educational funding with student loans, as a loan guarantor and via numerous public programs such as the Monetary Award Program (MAP), the Illinois Veteran Grant and the College Illinois!® 529 Prepaid Tuition Program. Students and families have free access to a wealth of financial aid and college planning information at ISAC’s family of websites available at www.knowhow2goillinois.org/ and www.529prepaidtuition.org/.


Contact
Illinois Student Assistance Commission (ISAC)
100 W. Randolph Street, Ste. 3-200
Chicago, IL 60601
312.814.3679