Ask Terry Questions Current financial state of College Illinois!

Current financial state of College Illinois!

By Terry Savage on June 10, 2015 | College Savings / Student Loans

Hi Terry,
My husband and I were somewhat relieved to find your answer to a similar query in December 2013. We are wondering what you would advise now. We paid or 9 semesters for our soon-to-be seventh-grade child beginning when she was an infant and finishing as she entered kindergarten. Do you think we should we cash out, hope for the best, or relax?

Terry Says:  Honestly, this is a tough one.  There are ways the state could get around its financial crunch and make the promised payments.  For example, it could issue “vouchers” to pay for the promised semesters when the time comes.  And I think they will be under pressure to do that.  (Although how universities can use a voucher to pay teachers or heating bills, I don’t know!)  I just hate to see you cash in now, because you’ll get nowhere near the amount the account is worth in promised tuition.  I’d stick around and keep my fingers crossed if it were my child!  (And save more money outside CollegeIllinois!)

Recent College Savings / Student Loans Questions



a personal
finance question