GRANDCHILDREN COLLEGE FUND ADVISE
Terry: Currently enrolled my 3 grandkids in Bright Start. My 26 year old daughter was enrolled, used and graduated college in Minnesota using College Illinois, which was terrific. The beauty of College Illinois when I purchased , the program froze the tuition for state schools for the year the fund was purchased. It worked for my daughter – wonderfully. College Illinois now is in trouble I believe due to state funding. What do you recommend.
Terry Says
Wow, this is confusing! First, I can’t imagine that your daughter used the prepaid CollegeIllinois tuition plan for school in Minnesota! Your dollars would have gone much farther if she attended school in Illinois. I’m really hoping you might Bright Start Savings plan was used.
Second, if your younger kids are in Bright Start — that is NOT the CollegeIllinois prepaid college tuition plan and has nothing to do with Illinois’ finances. Its investments are held separately, and do not depend on the state.
But if they are in the CollgeIllinois prepaid tuition plan, you have reason to worry! The state’s finances are in terrible shape. I doubt they will default, but they might have to issue vouchers when the time comes. And how the schools would use those vouchers to pay teachers — I have no idea! If I were you I would open an account in BrightStartSavings and do any future savings there.
