According to State Representative Jim Durkin (R-Western Springs) a recent audit shows that College Illinois!, one of two types of savings plans offered by the state, is $560 million short of its projected obligations to nearly 54,000 current and future students. The program allows parents to lock in today's tuition rates, boosting their ability to pay for college.

Durkin has passed legislation out of the Illinois house that will allow public stakeholders and families who own contracts in the fund to review the investment of the fund’s assets.  HB3923 provides that the provision that authorizes closed meetings to be held to consider the sale or purchase of securities, investments, or investment contracts does not apply to meetings held to consider the investment of assets or income of funds deposited into the Illinois Prepaid Tuition Trust Fund.

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The Illinois House approved the measure on Wednesday.  It now moves on to the Senate for their consideration.