Bright Start is a Section 529 education savings program created and administered by the state of Illinois. It allows you to save money toward your future student's education in a Bright Start account and pay no taxes on any earnings. When it's time for college, you can make tax-free withdrawals from the account to pay for qualified expenses (withdrawals for nonqualified expenses are subject to an additional 10% federal tax) at most schools in-state, out-of-state or abroad. Whether your student attends a vocational, community, state or even Ivy League institution, you've helped them have a brighter future. Anyone can open a Bright Start account-even if you live outside of Illinois. The only rule is that you (the account owner) and your future college student (also called the beneficiary) have a valid social security number or taxpayer identification number. If you do live in Illinois, however, you get extra state tax benefits. If you live elsewhere, check out whether your state offers a plan with alternative state tax advantages.
At EarlyBirds.com, we know life is often very hectic and sometimes the most importantthings are pushed aside. We believe customers should have time to enjoy the...