Investment research and ratings firm Morningstar has awarded Illinois Bright Directions and Bright Start Direct College Savings plans with the bronze medal, one of the top awards in the nation. Morningstar’s award means the college savings plan is “most appealing to those saving for college, with reasonable fees, strong investment options, and capable oversight.” “The award is in line with the increasing performance within the college savings division,” said Treasurer Dan Rutherford. “That division currently has nearly $7 billion in assets and a record 370,000 accounts. Since becoming State Treasurer in 2011 assets in the college savings division have grown by 85%, and the number of accounts has increased by 38%.” In the annual review of the largest 529 college-savings plans, Morningstar identified 29 plans that rose above their typical peers. Illinois Bright Directions and Bright Start Direct were among them. The evaluation of the 529 college savings plans was based on process, performance, people, parent and price.
Posted on: Thu, 23 Oct 2014 20:11:29 +0000