Illinois Treasurer Frerichs Encourages Families to Save for Higher Education Costs

Lawndale News Chicago's Bilingual Newspaper - Education

Illinois State Treasurer Michael Frerichs recognized 529 Day on May 29, by encouraging families to save for future education through Illinois’ highly rated Bright Start 529 or Bright Directions 529 college savings plans. Illinois taxpayers receive tax benefits for contributing to an Illinois 529 plan, earnings grow tax-deferred, and withdrawals are tax-free when spent on qualified expenses. Anyone can contribute to a 529 account, and there are no enrollment fees, minimum contributions, or minimum balance requirements to open or maintain one. The new Bright Directions 529 phone app can be downloaded from the App Store and from Google Play.  The new app is the latest in a string of enhancements that Treasurer Frerichs and Union Bank & Trust have implemented to make Bright Directions 529 a more modern and low-cost 529 plan. For more information about Bright Start 529, including how to open an account, go to BrightStart.com or call 877.432.7444. For more information about Bright Directions 529, go to BrightDirections.com or call 866.722.7283.

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