Signup for our free webinars on saving for college, increasing your savings, understanding the tax benefits of a 529 Plan, and more. Whether you already have an account or are looking to learn more, you’ll get expert advice you need on college savings planning.
Bright Start has high-quality investment options for you to choose from. Find your best fit.
Funds are easy to withdraw and can be used for accredited post-secondary public or private schools.
The Federal Consolidated Appropriations Act signed into law on December 20, 2019 includes several provisions related to 529 plans.
529 Plans offer a tax-advantaged way to save for college. Starting early and putting away even a small amount of money each month can have a huge impact on future educational expenses.Calculate Now
Accounts can be opened by almost anyone, including individuals, UGMA/UTMA custodians, certain legal entities, or a trust. There are no income or residency requirements.
Enroll online or call 877.432.7444 for an enrollment packet. You may also download an enrollment form that can be sent via regular mail once completed.
Anyone can be named as a beneficiary. However, each account is limited to a single beneficiary.
Anyone is able to contribute to a Bright Start 529 account.
1 An individual who files an individual Illinois state income tax return will be able to deduct up to $10,000 per tax year (up to $20,000 for married taxpayers filing a joint Illinois state income tax return) for their total, combined contributions to the Bright Start College Savings Program, the Bright Directions Advisor-Guided 529 College Savings Program, and CollegeIllinois! during that tax year. The $10,000 (individual) and $20,000 (joint) limit on deductions will apply to total contributions made without regard to whether the contributions are made to a single account or more than one account. The amount of any deduction previously taken for Illinois income tax purposes is added back to Illinois taxable income in the event an Account Owner takes a Nonqualified Withdrawal from an Account or if such assets are rolled over to a non-Illinois 529 plan. If Illinois tax rates have increased since the original contribution, the additional tax liability may exceed the tax savings from the deduction.back
The Bright Start Direct-Sold College Savings Program is sponsored by the State of Illinois and administered by the Illinois State Treasurer, as Trustee. Union Bank & Trust Company serves as Program Manager. Balances in your Bright Start account are not guaranteed or insured by Bright Start, the State of Illinois, the Illinois State Treasurer, any other state or federal agency, Union Bank & Trust Company or any of its affiliates, the Federal Deposit Insurance Corporation (except as provided in the Program Disclosure Statement solely with respect to the FDIC-insured bank deposit Underlying Investment), or any other entity.
An investor should consider the investment objectives, risks, and charges and expenses before investing. This and other important information is contained in the Bright Start Direct-Sold College Savings Program Disclosure Statement which can be obtained at BrightStart.com and should be read carefully before investing. You can lose money by investing in a portfolio. Each of the portfolios involves investment risks, which are described in the Program Disclosure Statement.
Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s 529 plan.
NOT FDIC INSURED* | NO BANK GUARANTEE | MAY LOSE VALUE
*Except the Bank Savings Underlying Investment