Parents Could Save Thousands on Student's College Bills

DeKalb , IL …State Representative Bob Pritchard urges parents to plan ahead in order to save thousands of dollars in their child's college expenses. By enrolling in the state's College Illinois ! prepaid tuition program by April 29, parents can stop tuition inflation by locking in a price now to cover future college tuition and fees.

“Many people make New Year's resolutions to ensure they accomplish their goals such as losing weight or advancing their career,” said Pritchard. “I encourage parents to also set another goal this year – to sign up for College Illinois ! and protect your child's opportunity to attend the college of his or her choice.”

Pritchard said due to inflation, parents of a baby born in 2007 can expect to pay approximately $26,935 in just tuition costs for one year of education if that child attends college at the age of 18. College Illinois ! blocks inflation and allows families to pay for tomorrow's higher education at today's rates.

Program participants can purchase up to nine semesters at the university level, up to four at the community college level, or a combination plan of four community college and four university semesters. Beneficiaries may apply the money to an education at any in-state or out-of-state public or private institution. College Illinois ! offers a variety of payment options which are designed to fit most family budgets.

College Illinois ! benefits are 100 percent exempt from federal and state income taxes. The state program is celebrating its 10 th anniversary, with more than 28,000 Illinois families who have purchased more than 57,000 prepaid tuition contracts equaling more than $1 billion. Enrollment in the program is open until April 29 th . Families interested in College Illinois ! may visit www.collegeillinois.com or call toll free 1-877-877-3724 for more information.

Pritchard said, “What better resolution to set this year than to secure an affordable price for your child's higher education? I urge all parents to sign up for this college savings program before the enrollment period closes, because a college education will help your child obtain a brighter future.”