Illinois State Treasurer visits local college, says start saving for future today

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ROCKFORD (WREX) — Illinois State Treasurer Michael Frerichs is making his way around Illinois encouraging people to save money for college.

"We think that the best day to start saving for college is yesterday and the second best time is today," said Frerichs.

The Illinois State Treasurers Office aims to help students deal with debt.

Treasurer Frerichs oversees two 529 college savings plans where individuals can grow tax-free investments.

The Bright Star and Bright Directions plans are intended to pay for college purchases like tuition, room and board, books and a computer.

He was able to talk to medical students about how they are financing their education.

The Treasurer says it is important for people to know they have access to these savings accounts.

"We want to make sure that young people know they have college savings accounts," said Frerichs. "Because if know they know they do, they are three times more likely to attend college."

Frerichs encourages people to manage their loans and not run away from them.

via WREX

September 13, 2021 at 11:00PM

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