A 529 college savings plan is a tax-advantaged investment account where withdrawals are used for qualified education expenses, such as tuition, fees, books, and housing. Although the University of Illinois System does not offer a 529 plan via payroll deduction, employees may participate in one of the two State of Illinois 529 Plans or a 529 Plan in another state. Contributions can be made from a personal bank account.
State of Illinois 529 Plans
- Bright Directions – A plan that can be accessed through a financial advisor/broker. See Bright Directions for information about this plan and Bright Directions Forms or call 866.722.7283.
- If Fee Structure E is selected on the Enrollment Form, your advisor/broker may require authorization from the university on the Fee Structure E form. Send this form to wsdoebel@uillinois.edu for signature.
- Bright Start – A direct plan that individuals can sign up for and manage on their own. See Bright Start for information and to open an account or call 877.432.7444.
Both Plans allow Illinois families to save while taking advantage of federal tax benefits. View the links above or call the Illinois Treasurer’s office 877.432.7444. More information is available from the Illinois State Treasurer.
See the University Bursar to make student payments from your 529 Plan.