Illinois’ prepaid college tuition program stopped taking new participants because it does not have the money to carry out its estimated obligations.
Only 450 people enrolled in the College Illinois! Prepaid Tuition Program during the most recent fiscal year, compared with roughly 4,400 about ten years ago.
The program’s had to stop accepting new applicants twice in the last seven years.
The program gives parents a chance to pay tuition for a state university ahead of time to avoid possible tuition increases.