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updated: 5/31/2013 9:30 AM

Assets of Illinois tuition savings plans top $5 billion

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Associated Press

Two Illinois college tuition investment programs have seen their assets grow substantially in the past two years.

State Treasurer Dan Rutherford announced Wednesday the plans' assets have grown from $3.7 billion to more than $5 billion. Rutherford says he's been working to restore faith in the programs, which offer tax advantages to families saving for college.

The state treasurer says one key to the success of the Bright Start and Bright Directions programs is a marketing campaign that's increasing awareness.

Investments in the savings plans can be used at most vocational, community, state or postsecondary institutions in Illinois and outside the state.

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