Lack of confidence could bankrupt prepaid tuition
Over the last three months, families have withdrawn more than $ 12 million College Illinois!, According to documents obtained by News Illinois Statehouse. Families came out just over $ 2 million during the same period last year.
The panicked parents who have requested their money is a small percentage of total policyholders, but a great event today questioned whether to follow suit.
Ginnie Flynn and Dan decided to buy two semesters of 7-year-old daughter, after reading positive reviews of this program and to study the details of this past year.
Ginnie Flynn has worked in the health care and Dan Flynn is a firefighter in Chicago. They said they have a decent life, but with the rising cost of higher education, they wanted to ensure that their daughter could attend college. The two did not request a refund, but said that this option is on the table.
"Before we went ahead and jumped in ... we did our research on it, and they were rated quite high, and these are people who watch the markets with these things much better than us, and they did not see coming, "Dan Flynn."If they do not see it coming with a plan of the state that they ranked very highly, I do not really know what the average user is supposed to do."
The Flynns said they are not ready to take their money, because their daughter is so young and not all of his college fund future are related to College Illinois!. However, they did say they follow the ongoing investigation, the results will strongly influence their decision to remain in the program.
"Will you be the last holding the bag?Want to be the first that has not a good solution, but perhaps not wait to see what options were really? "Ginnie Flynn asked." (These are) things that keep you at night as a parent. "
Created 12 years ago, College Illinois! allows people to pay for tuition and mandatory fees at universities and community colleges, years in advance at a lower cost. The money people contribute to the program will be invested and the return on investment will cover tuition fees and the cost of inflation in the coming years or decades.