Good evening,

I saw your post on why you shouldn't use Bright Start. If i already have been using that, can i switch to a different 529 w/o taking a tax hit?


Terry Says:

Look, I have a long-time “grudge” against how Bright Start treated account holders in 2008.  That’s why I wouldn’t put NEW money in it.  To answer your question, yes you can roll to another plan.  Or you could open a second account at Vanguard or Fidelity using their state 529 plans.   BUT you forego the Illinois tax deduction for future contributions.

According to the latest plan rankings by, Illinois’ direct-sold (meaning you don’t go through an advisor, but directly to the website,  the Illinois plan ranks 18th for the past year, and 31st over a 10 year period.

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