Illinois Treasurer eliminates Bright Directions fees

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SPRINGFIELD - Illinois Treasurer Michael Frerichs has announced that families who wish to save for college through the Bright Directions 529 plan will no longer be required to by set-up or maintenance fees.

Frerichs says a newly negotiated contract will eliminate the $10 set-up fee and $3 quarterly maintenance fee.  He also adds that the cuts will take effect on November 15, and that more than 104,000 accounts will benefit.

Individuals who have a Bright Directions account are able to invest in higher education without paying taxes on earnings, and can spend those earnings on qualified expenses at various institutions.  For more information, visit

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