College Illinois! has been halted
The program called College Illinois! has been halted.
The program allows families to purchase upcoming semesters at today's prices. It falls under section 529 of the Internal Revenue Code.
The program is not shut down, it is just waiting to address the lack of funding for the program.
The program is still continuing to pay out benefits as well as tuition payments for those who have students in are currently in college.
It only had 450 new sign-ups during the past fiscal year. This compared to the nearly 4,400 signups in 2007.
It is the second time in seven years the program has been put on hold.