New mobile app brings changes to state’s Bright Start college savings program

Posted on September 12, 2024
Treasurer Mike Frerichs announced the change Thursday afternoon. (Photo courtesy: WJBC/File)

By Dave Dahl

SPRINGFIELD – A new mobile app, lower fees, and management by TIAA are the changes to the state’s 529 college savings program, Bright Start, announced Thursday by the treasurer’s office.

Treasurer Mike Frerichs told a Chicago news conference student debt hurts more than just the new graduate who holds it.

“When a whole generation of students comes out of college with a mountain of debt, it means they are less likely to be able to buy a new car or to buy a home,” saud Frerichs. “If people have too much debt, that’s less money that they have to spend in our local businesses and local restaurants.”

Parents joined Frerichs in his enthusiasm. One mother said she is the parent of a son who wants to become an astrophysicist and a daughter who wants to own a restaurant with attached soccer field.

The changes go into effect Sept. 30.

Dave Dahl can be reached at [email protected].

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