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WJBD - Local News - College Illinois Deadline Approaching

College Illinois Deadline Approaching

(Springfield, IL) -- Time is quickly running out for families to take advantage of lower rates for the College Illinois 529 Prepaid Tuition Plan. The rates for the contracts are scheduled to go up four-percent on January 1.

Eric Zarnikow with the Illinois Student Assistance Commission says plans can be as low as $42 a month. The prepaid tuition program allows families to prepay for college tuition. They are state tax deductible and grow tax free.

The program has been around since 1997 and Zarnikow says it has paid out over 400-million dollars in tuition and fees.

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