Ask Terry Questions College Illinois prepaid tuition program

College Illinois prepaid tuition program

By Terry Savage on August 31, 2014 | College Savings / Student Loans

We have paid for the college Illinois plan in full
Our child is within 7 years of entering college. Do you think we are safe?
I have written multiple state legislatures and the reply is vague. Do you have anything more to add?

Terry Says:  The reason the answers are vague is because the law is vague!  Actually, the law says that the state must “fund” those prepaid tuition plans if there is cash available!  Well, take a look at the state budget!!  Actually I think there is a pretty good chance you will get what you paid for.  Because they don’t have to give plan-holders a check.  Instead they will give them a “voucher” for tuition at an in-state school.   But there won’t be a chance to use the money for an out-of-state school.  At least, that’s my prognosis.



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