Illinois families can combat the high cost of postsecondary education and start to tame tuition inflation by purchasing College Illinois! Prepaid Tuition Program contracts between now and April 30.
Since 1998, families across the state have purchased more than 72,000 College Illinois! contracts as one tool to help pay the increasing cost of higher education and to limit costly student loan debt.
“Since the program’s first enrollment period in 1998, College Illinois! has paid out approximately $470 million in tuition and mandatory fees,” Eric Zarnikow, executive director of the Illinois Student Assistance Commission, the state agency that administers the program, said in a news release. “We take great satisfaction knowing that College Illinois! has helped over 25,000 Illinois students attend a postsecondary institution, and has done so by making every tuition payment on behalf of program beneficiaries in-full and on time.”
With the start of the new open enrollment period, College Illinois! has simplified pricing and payment options making program participation easier than ever.
“To help make the benefits of a prepaid tuition program more accessible, we’ve simplified the program,” Zarnikow said in the release. “In 2011, someone considering the purchase of a College Illinois! contract had to work through nearly 30 pages and hundreds of pricing and payment alternatives.
Purchasers told us enrollment was too complicated and confusing. This year pricing and payment options are contained on just three pages.”
The College Illinois! open enrollment period is supported by a new fresh look including a new logo and website (www.529prepaidtuition.org) offering visitors easy access to program benefit information and interactive tools to help determine if a College Illinois! plan is a suitable option for their family situation. The website also provides quick access to Plan disclosure statement and master agreements, useful financial information and program updates.