SPRINGFIELD, Ill.— Sunday, January 31, is the final day to make good on New Year’s resolutions to start saving for college by locking in January’s discount prices with the College Illinois! 529 Prepaid Tuition Program. Prices will increase Monday, February 1, according to the Illinois Student Assistance Commission (ISAC).
"The College Illinois! 529 Prepaid Tuition Program lets you limit the cost of your child’s future tuition and fees to a single, reliable number and avoid market volatility and tuition inflation while saving for college,” said ISAC Executive Director Andrew Davis. "But new prices take effect February 1, so we encourage parents to act now to save as much as $500 on a prepaid tuition contract versus next month.”
New, monthly-discounted pricing allows purchasers who buy earlier to lock in the lowest prices on future college tuition and apply benefits almost anywhere in the United States and abroad. Now is the best time to purchase a contract because pricing discounts make buying early more affordable. Prices adjust on the first day of each new month, every month, so it pays to purchase sooner rather than later.
Unlike a college savings plan, a College Illinois! 529 Prepaid Tuition Program 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 public and private institutions nationwide.
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 pocketbooks. Prepaid tuition benefits keep pace with the increases in tuition and fees equal to those found at in-state, public institutions.
Now is the time to purchase this secure option for a child’s educational future at the lowest prices. Parents and grandparents can purchase as little as one semester at a community college to nine semesters at a public university. Various payment options are available, including monthly and annual installments.
Sunday, January 31, is the last day to take advantage of January pricing discounts. Visit www.529prepaidtuition.org, call toll-free at (877) 877-3724 or e-mail firstname.lastname@example.org for program information, including pricing and enrollment guidelines.
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.