Episode 111: 529 Day

Happy May 29 – also known as 529 Day, which celebrates 529 college savings programs! We partner with the Office of the Illinois State Treasurer to highlight the two nationally acclaimed 529 programs they manage: Bright Start and Bright Directions. Learn more about both in our latest episode of Making Cents of Money! Government Resources & Tax Information •Internal Revenue Service. (2025). About Publication 970: Tax benefits for education. https://www.irs.gov/forms-pubs/about-publication-970 •Internal Revenue Service. (2024). 529 plans: Questions and answers. https://www.irs.gov/newsroom/529-plans-questions-and-answers •Internal Revenue Service. (2025). American opportunity tax credit. https://www.irs.gov/credits-deductions/individuals/aotc •Internal Revenue Service. (2025). Lifetime learning credit. https://www.irs.gov/credits-deductions/individuals/llc College Cost Planning Tools •College Board. (2024). Big Future: How much will college cost. https://bigfuture.collegeboard.org/pay-for-college/get-started •College Board. (2024). Trends in college pricing and student aid 2024. https://research.collegeboard.org/trends/college-pricing •U.S. News & World Report. (2024). Net price calculator guide. https://www.usnews.com/education/best-colleges/features/net-price-calculator •University of Illinois System Net Price Calculators oUniversity of Illinois Chicago. https://docs.financialaid.uic.edu/ oUniversity of Illinois Springfield. https://www.uis.edu/financial-aid/cost-attendance/net-price-calculator oUniversity of Illinois Urbana-Champaign. https://secure.osfa.illinois.edu/NPC/NPC.asp Research & Data •Sallie Mae. (2024). How America pays for college 2024. https://www.salliemae.com/about/leading-research/how-america-pays-for-college/ •U.S. Census Bureau. (2024). Post-secondary employment outcomes (PSEO) database. https://lehd.ces.census.gov/applications/pseo/?type=earnings&compare=postgrad&specificity=2&state=08&institution=08&degreelevel=05&gradcohort=0000-3&filter=75&program=52 Illinois 529 Plan Information •Bright Start college savings program. https://www.brightstart.com •Bright Directions college savings program. https://www.brightdirections.com •Flywire partners with Ascensus to digitize 529 college savings plan payments. https://ir.flywire.com/news-releases/news-release-details/flywire-partners-ascensus-digitize-529-college-savings-plan Video Resources •Get Savvy Series: Investing 101 - Wealth building basics. https://youtu.be/wXkrLQd10Yg?si=pYVOYL6_OU6KJJvV •Get Savvy Series: Investing 102 - Risks & rewards. https://youtu.be/qXZrktJwOtQ?si=LddQF-R9ycxYAK-Z U of I SMMC Blog Articles •Mutual funds vs exchange traded funds. https://blogs.uofi.uillinois.edu/view/7550/1323172623 •How the Rule of 72 can help you build wealth—or sink deeper into debt. https://blogs.uofi.uillinois.edu/view/7550/446933598 Relevant Previous Episodes •Saving for College with a 529 Savings Plan (Ep. 11) https://blogs.uofi.uillinois.edu/view/7550/2145536872 •Choosing a financial professional (Ep. 25) https://blogs.uofi.uillinois.edu/view/7550/518681996 •Investing to reach financial goals (Ep. 57) https://blogs.uofi.uillinois.edu/view/7550/1002945600 •World investor week (Ep. 71). https://blogs.uofi.uillinois.edu/view/7550/1405333500