The College Illinois! 529 Prepaid Tuition Program was created by the Illinois General Assembly in 1997 and is administered by the Illinois Student Assistance Commission (ISAC). The program's mission was to provide Illinois families with an affordable and guaranteed way to pay for their children's college education. By purchasing contracts, families could prepay for tuition and mandatory fees at current prices, which the program would then pay out to the student's chosen institution in the future, regardless of tuition inflation. Due to a significant unfunded liability, the program was closed to new enrollment on May 31, 2017, and now focuses on administering and paying out benefits for its existing contract holders.

Founded in

United States