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To view the answer to any FAQ below, click the answer
link.
Tax Advantages & Implications
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What are the income tax advantages of a College Illinois! 529 Prepaid Tuition Program contract?
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Can I contribute to a 529 savings plan, a Coverdell Education Savings Account and a College Illinois! 529 Prepaid Tuition Program plan at the same time?
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How are the College Illinois! 529 Prepaid Tuition Program plans treated under federal estate tax laws?
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What are the tax consequences of a cancellation, refund or transfer?
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How are College Illinois! 529 Prepaid Tuition Program plans treated under federal gift tax laws?
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Can I roll over funds from other education savings funds?
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Can I transfer funds from my child's UGMA/UTMA account to the College Illinois! 529 Prepaid Tuition Program?
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Where can I find more IRS tax information for higher education?
Schools, Admissions & Financial Aid
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What schools accept College Illinois! 529 Prepaid Tuition Program benefits?
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Will a College Illinois! 529 Prepaid Tuition Program plan hurt the beneficiary's chance for financial aid?
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Will a College Illinois! 529 Prepaid Tuition Program contract affect a student's admission to the college?
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Are there any schools where College Illinois! 529 Prepaid Tuition Program benefits can't be used?
Cancellations & Refunds
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If I cancel my plan, who receives the refund and how much money will be returned?
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What happens if the beneficiary doesn't use all the benefits?
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Can I cancel my plan?
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What happens if I’m unable to keep up with my payments?
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How do I cancel my plan?
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If I cancel my plan, can I apply again during another enrollment period?
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