Win money for college – and your school
Giannoulias holds drawing to encourage saving for college

March 2, 2010

Need a reason to start saving for college? State Treasurer Alexi Giannoulias is giving away up to $10,000 to K-8 students in Illinois schools thanks to the new Win Money for College random drawing.

Ten winners will be drawn at random and each will receive a $500 contribution to a Bright Start 529 college savings account. In addition, up to $500 in school supplies will be awarded to the school listed on each winner’s entry.

To enter, visit www.treasurer.il.gov and follow the Win Money for College link. Entries must be received by April 30. Entrants must be Illinois residents aged 18 or older and be the parent or legal guardian of a child attending an Illinois K-8 public or private school.

The Bright Start College Savings Program is one of Illinois' tax-advantaged 529 college savings plans. Like a 401(k) used to save for retirement, a 529 plan allows people to invest in various portfolios of stock and bond investments to save for a student's college education. Illinois residents enjoy a generous state tax deduction for contributions made to a Bright Start account — up to $10,000 for single filers and up to $20,000 for joint filers, per year.

  
     
 
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