ISAC stops selling new contracts

December 12, 2011 3:56:54 PM PST
The state's pre-paid college tuition program has stopped selling new contracts as a new study reveals the fund has a 30 percent shortfall.

The Illinois Student Assistance Commission (ISAC) plans to make recommendations for fixing the 13-year-old program, according to Crain's Chicago Business.

More than 30,000 families hold contracts for more than 50,000 students in College Illinois.

The program allows parents to lock in tuition costs at public universities before students enroll.