New Illinois law gives every child born after 2021 money for college

Starting Jan. 1, 2021, every child born or adopted in the state of Illinois will get $50 deposited in their college savings account or 529 plan.

It’s part of a new law, which introduces the Illinois Higher Education Program.Local Quad City financial experts say the cost to attend college keeps going up 5 to 6% each year.State legislators passed this law to combat those rising college tuition costs, and lawmakers hope it will remind parents to contribute to their child’s college fund starting at birth.
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