They deserve college.

Together

Bright Start makes it easy for the entire family to save together. Everyone can contribute, friends, family, and grandparents. Anyone over the age of 18 with a Social Security or Individual Taxpayer Identification Number (ITIN) and a valid U.S. address can open an account. The account owner selects a beneficiary, the future student, that will use the funds to pay for qualified higher education expenses.

Little by little

Bright Start is a low-cost investment plan with no enrollment fee, annual service fee, or minimum contributions required. It even gives the option of contributing automatically directly from a checking account or a paycheck each pay period. Everything counts towards making your Bright Start 529 account grow!

With tax benefits

The earnings from a Bright Start 529 account grow tax-free and qualified withdrawals are free from federal and state income tax. Also, Illinois taxpayers are eligible for a state income tax deduction for contributions to the account up to $10,000 per tax year (up to $20,000 for married taxpayers filing jointly). A college savings account means a brighter future²

¹Withdrawals used to pay for Qualified Higher Education Costs are free from federal and Illinois state income tax. Qualified higher education expenses include tuition, fees, books, supplies, and equipment required for enrollment or attendance; certain room and board expenses incurred by students who are enrolled at least half-time; the purchase of computer or peripheral equipment, computer software, or Internet access and related services, if used primarily by the beneficiary during any of the years the beneficiary is enrolled at an eligible educational institution; and certain expenses for special needs services needed by a special needs beneficiary._back

²An 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

³Morningstar analyzed and rated 61 plans nationwide. Bright Start was one of only three plans to earn a Gold rating. Analyst ratings for 529 college savings plans consider: Process, People, Parent, and Price. Based on their conclusions, analysts will assign pillar scores. Morningstar analysts retain discretion to override scores if they believe a unique characteristic justifies a different rating than the score suggests. The Morningstar Analyst Rating™ is a subjective evaluation and is not a credit or risk rating. The Analyst Rating scale is Gold, Silver, Bronze, Neutral, and Negative. ©2020 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results._back