college savings 052822CHAMPAIGN – On Sunday, May 29, Illinois will be celebrating College Savings Day thanks to a resolution led by Senate Higher Education Chair Scott Bennett.

“As parents and children set their sights on the kinds of careers they want to pursue, we want them to know that saving through 529 College Savings Plans can help them get there,” said Bennett (D-Champaign). “College Savings Day is a great reminder that families can achieve their education savings goals.”

College Savings Day celebrates the flexible savings plans that enable entire families to fund their higher education and career dreams. This day raises awareness among parents, teachers and community members of how these unique tools can help support education over a lifetime.

The investments that families make today pay off in the form of an increased earning potential for their children in the future with a college graduate earning an average of $1 million more than a high school graduate during their career.

“By contributing to a 529 savings plan, you help prepare a child for whatever path they choose,” said Bennett. “For those that already have 529 accounts, I encourage you to take a moment to review what you have.”

Bennett’s resolution was adopted during the spring legislative session. Bennett encourages Illinois families to consider a college savings plan to set their children up for success.