Rutherford discusses advantages of College Illinois!

PONTIAC, IL – Central Illinois residents are being urged to take advantage of College Illinois!, a 529 prepaid tuition program that enables families to lock in prices at today’s rates, according to State Senator Dan Rutherford (R-Pontiac).

College Illinois! is available to anyone wanting to assist students who plan on pursuing higher education. The program keeps pace with increases in tuition and fees equal to those found at in-state public universities. Families can purchase as little as one semester or up to nine-semesters of higher education. Different payment options are available, including monthly and yearly installments.

The program also enables purchasers to enjoy a state tax deduction of up to $10,000 for an individual or $20,000 per married couple. Earnings on the plan are exempt from state and federal income taxes, and purchases will receive federal estate and gift benefits.

Rutherford noted that College Illinois! is a secure college investment option. Families who enroll in the program have the financial backing of the state, which ensures payment of college tuition and fees. College Illinois! funds can be used at public and private colleges nationwide.

Open enrollment for College Illinois! began on November 1, 2009. Enrollees must submit their application and fees before September 2010 to lock in the 2009-2010 rates. For more information on College Illinois!, please visit www.CollegeIllinois.com or call 1-877-877-3724.