Ask Terry Questions Illinois college savings program

Illinois college savings program

By Terry Savage on February 28, 2018 | College Savings / Student Loans

Morning Star recommends the Illinois college savings program now that it has undergone a number o& changes and fee reductions. U still stand by your position that Illinois program should not be considered when planning for your children’s college savings? Thank you.

Terry Says

I have written several posts mentioning that the changes have made the Illinois Bright Start Savings plan far more attractive -- plus, you get a tax deduction (up to $10,000 per individual or $20,000 if married, filing jointly) on your Illinois tax return. I'm delighted that people took my advice to hear previously-- when I told them (at the time) that the fees were too high, and the investment choices were poor.  I'm glad that has been remedied in the past year!

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