Lawmaker Wants Tighter Controls on ‘College Illinois’

After a year of bad news, Illinois’ pre-paid college tuition program says it has enough money to get through at least 2022. But as Brian Mackey reports, changes could be in store.

[mp3 – 0.7 MB – 0:58]

College Illinois has had a rough year. The program allows parents to buy pre-paid college tuition contracts. But poor investment returns have left it without enough money to meet its long-term obligations. That’s put the Illinois Student Assistance Commission, which oversees the program, in the line of fire.

Rep. Jim Durkin, R-Western Springs, has a College Illinois contract for his daughter. Even though he’s a lawyer, he says he didn’t initially realize the state was not required to honor the contracts if the program runs dry. Instead it only has what’s called a “moral obligation.” If funds run low, the commission must ask lawmakers for more money — but the General Assembly can say no.

“I think that if you’re going to induce parents and grandparents throughout the state of Illinois to participate in this program — basically say, ‘Give us your money and we’ll make sure that it’ll be there for your grandchild’ — you owe more than a moral obligation,” Durkin says.

Durkin wants future investment decisions open to public scrutiny. He also proposes limiting the fund to safer, more conservative investments.

This entry was posted in Education, Government Performance, Uncategorized and tagged , , . Bookmark the permalink.

2 Responses to Lawmaker Wants Tighter Controls on ‘College Illinois’

  1. Pingback: College Illinois faces funding struggle | WUIS – My Source for News

  2. paul Smith¡¯s Fall/Winter 2013 Selection is power dressing for any creative types. The collection packs plenty of sharp colours and tailoring. Oh how awesome could it be to get all this classic tailored pieces you could wear to work, looks contemporary and throughout these amazing colours that are neither pastel nor inside basic shades of charcoal, grey and beige.
    http://www.ismayatkins.com/p-66.html 爆安!ポールスミス 財布 激安★財布 二つ折り財布 小銭入れ 人気 オールドレザーシリーズ 牛革 新作 ブランド メンズ 男性 紳士 PaulSmith さいふ サイフ ブラウン
    http://www.ismayatkins.com/p-69.html 爆安!ポールスミス 財布 激安★財布 二つ折り財布 小銭入れ 人気 オールドレザーシリーズ 牛革 新作 ブランド メンズ 男性 紳士 PaulSmith さいふ サイフ ダークブラウン
    Its timeless and energetic with vibrant colours. The collection mixes smooth and heavy textures for instance soft alpaca tweed, silk twill, lambskin and organza. Trousers are sharp along with serious against billowy transfer shirts finished with over-sized jackets. Accessories are key with with the portfolio clutch and also base holdall while shoes and boots are sleek with stylish pointed court heels plus low cut ankle ” booties “.

Comment on this Story

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s