IL HJR0041

Declares May 29, 2019 as 529 College Savings Day in Illinois to raise awareness about college savings plans.

Urges all Illinoisans to explore the benefits of 529 college savings plans, which offer tax-deferred growth and tax-free withdrawals for qualified higher education expenses.

Illinois residents can claim a state tax deduction of up to $10,000 per year ($20,000 for married couples) on contributions to any state 529 plan.

Highlights that Illinois offers three separate 529 plans: College Illinois! Prepaid Tuition Program, Bright Start College Savings Plan, and Bright Directions College Savings Plan.

Notes that college graduates earn an average of $1 million more than high school graduates over their careers and that 529 plans help families reduce student loan debt burdens.