College Illinois! is an innovative 529 prepaid tuition plan that allows the contract holder to lock in the cost of tuition and fees today, protecting families against future tuition inflation. Backed by the State of Illinois, it's a secure choice.
As a Section 529 plan, College Illinois! plan earnings are 100% exempt from state and federal taxes. (There is a sunset provision for the federal tax exemption on withdrawals used for qualified higher education expenses effective December 31, 2010 that is subject to extension by Congress.) This plan also allows federal gift and estate tax benefits.
Whether you buy a one-semester plan or the maximum nine-semester plan, in-state or in-district tuition and mandatory fees will be paid at any Illinois university or Illinois community college. There is no tuition inflation with College Illinois!.
College Illinois! enables you to apply prepaid benefits to all Illinois public universities and community colleges, public universities and colleges outside Illinois and private colleges and universities around the country.
Unlike financial aid, which you can't count on until a student is ready to go to college, College Illinois! allows you to begin building a strong college-funding plan anytime after a child is born.
The key advantage that comes with the purchase of a College Illinois! 529 prepaid plan is security. College Illinois! is backed by the State of Illinois and is administered by the Illinois Student Assistance Commission (ISAC). No matter how many semesters you purchase today, those benefits will be there for tomorrow's tuition. College Illinois! is your secure choice.
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