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Kickstart Your College Savings with Illinois First Steps
You’ve likely heard that it’s important to start early when you’re trying to reach a long-term savings goal, including saving for higher education. As the cost of college continues to rise, it’s important to start investing in your child’s future with a 529 college savings account.
Spark their college savings with Illinois First Steps, a $50 seed deposit for their future college, technical, or apprenticeship education. An eligible parent or legal guardian of a child born or adopted on or after January 1, 2023, can claim the seed deposit when they open a Bright Start or Bright Directions 529 college savings account.
Who is Eligible?
- Live in Illinois
The parent or legal guardian must be a resident of Illinois at the time of the child’s birth or adoption.
- Have a New Child
The child listed as the beneficiary of the Bright Start or Bright Directions account must be born or adopted on or after January 1, 2023.
- Open a Bright Start Account
To claim the funds, the parent or legal guardian of the child born or adopted on or after January 1, 2023, must have a 529 college savings account with Bright Start (or Bright Directions if they work with a financial advisor) and be listed as the account owner.
- Claim Now
Parents or legal guardians must claim the $50 seed deposit from Illinois First Steps before the child’s 10th birthday. Don’t wait, start today.
To receive the funds, the parent or legal guardian of the eligible child needs to open a Bright Start account and name the eligible child as beneficiary. The parent or legal guardian will then be prompted to fill out a simple claim form included in the new account enrollment process. If claiming the seed deposit through Bright Directions, your financial advisor can assist you with opening an account and completing the claim process.
By enrolling in an Illinois 529 college saving plan early, you can help create a brighter future for your child by saving for their higher education expenses. Saving what you can, when you can gives you the potential to build a solid foundation of savings for your child. Bright Start offers tax benefits, respected fund families, low costs, and flexible contribution options to meet your needs.
Claim your child’s $50 seed deposit at IllinoisFirstSteps.com.
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