Contributing to a child’s college education could be the perfect gift this holiday season. Grandparents and grandparents want to help their grandchildren and children succeed in life. A college education can help.
However, post-secondary education has become increasingly expensive.
According to the College Board, a newborn today will pay $180,000 to go to a public four-year university. Due to the economic downturn, many families cannot afford college. But, you can still give College Illinois! You can give a prepaid tuition program contract to your grandchild or child and lock in a price for their future education. This will keep you one step ahead of inflation.
“The price of college for one child is steep, and we have five to worry about,”Cindy Wisniewski, Naperville, Ill., College Illinois! Prepaid Tuition Program contract holder.
“College Illinois! lets us save for college for our kids over time in a way that makes sense financially for us.”
Wisniewski claimed that she was attracted by the program’s flexible benefits, as well as the variety of payment options.
“Each of our children can choose to attend just about any school they want,”She said. “We love being able to give them this unique opportunity to build their future.”
An education in college is a gift that will never be out of fashion, and holiday season allows purchasers to take advantage tax benefits before the year ends.
Andrew Davis, executive director at the Illinois Student Assistance Commission (the agency that manages College Illinois), explains how to give a prepaid tuition agreement to a child. To help children understand money better, Prepaid Tuition Program suggests that they combine it with another gift like a piggybank.
“A children’s book such as ‘The Penny Pot’ would be an appropriate gift for young readers,”Davis was a contract holder. “For older children, ‘Money Sense for Kids’ might be a good choice.”
Visit this site for more information www.529prepaidtuition.org/giftFor program information, materials, and enrollment guidelines, call 877-877-3724.
Note to editors: This publication is for Illinois.
