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Does Illinois offer a 529 plan?

Illinois administers two 529 plans, the Bright Start Direct-Sold College Savings Program and the Bright Directions Advisor-Guided College Savings Program, and one prepaid tuition plan, the College Illinois Prepaid Tuition Program. There are no minimum contributions on any of these tax-advantaged plans.

What are the Il 529 college savings plans?

The Illinois 529 college savings plans allow families to save for the future cost of college while taking advantage of great federal and state tax benefits, great investment lineups, and low fees. Treasurer Frerichs has worked hard to ensure the IL 529 plans are:

How much can I deduct from a 529 plan in Illinois?

Illinois taxpayers can deduct contributions of up to $10,000 ($20,000 if married filing jointly) when calculating their Illinois state taxable income. This limit covers contributions to all Illinois-sponsored 529 plans including the advisor-sold plan. But regardless of residency, 529 college savings plans offer distinct tax benefits.

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