On May 29, Illinois State Treasurer Michael Frerichs’ office will celebrate ‘529 Day’ to increase awareness of the state’s highly-rated 529 College Savings plans – Bright Start and Bright Directions – in an effort to provide all Illinois families with greater access to higher education. Treasurer Frerichs aims for all families to save for their children’s future. To open an account, all you need is to be at least 18 years old, a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN) and a valid U.S. mailing address. Anyone can contribute to an account, and there are no enrollment fees, minimum contribution or minimum balance requirements to open or maintain an account. Furthermore, earnings are free from federal and state taxes if used for qualified education expenses, and up to $10,000 in contributions ($20,000 for married couples filing jointly) to an account are eligible for an Illinois income tax deduction. With Bright Start, you don’t even need a financial advisor, and it takes just approximately 10 minutes to open an account online. To learn more about how to save for your child’s higher education through Illinois’ 29 College Savings plans, visit www.illinoistreasurer.gov. For more information about Bright Start, visit www.BrightStart.com, and for more information about Bright Directions, visit www.BrightDirections.com.