Frerichs Urges Families to Give the Gift of Education This Holiday Season (Springfield, IL) – Illinois State Treasurer Michael Frerichs is encouraging families to think beyond toys and gadgets this holiday season and consider contributing to a child’s Bright Start 529 college savings account instead.
Frerichs said giving to a college savings plan sends a powerful message. “Every time you make a Bright Start contribution, that kid sees that you believe in them,” he said. “This is a high-impact gift that will mean more to a child’s future than any trending toy or the latest virtual game.”
The Treasurer’s Office highlighted the ReadySave529 mobile app, which allows Bright Start account holders to solicit and receive gift contributions with just a few clicks. Nearly $55 million in gifts have been contributed to Bright Start accounts so far this year, according to state officials.
An Easy Way to Give
To encourage contributions, Bright Start users can download the ReadySave529 app, select Illinois, log in, and access a unique Ugift code to share with family and friends. Gifts also may be made online at BrightStart.com or sent by mail.
Bright Start funds can be used for college tuition, vocational training, technical programs, and registered apprenticeships. Families who contribute may qualify for Illinois income tax deductions, and investment earnings grow tax-free when used for eligible expenses.
A High-Performing Program
Bright Start has undergone significant improvements under Frerichs since 2015, transforming from a poorly rated plan to one of the strongest in the country. This year, Morningstar awarded Bright Start a Gold rating for the seventh time, naming it one of just five Gold-rated 529 plans nationwide and praising its cost-effective investment options.
Independent outlets including Forbes, Business Insider, Kiplinger and the Motley Fool have also recognized Bright Start as one of the nation’s top-performing college savings plans. The advisor-guided Bright Directions plan earned a Bronze upgrade this year, the only 529 program in the country to see its rating rise.
State officials credit the growth to ongoing improvements such as lower fees, expanded investment options and better tools for account holders. Over the past decade, Frerichs has negotiated more than $100 million in fee reductions.
Record Growth in College Savings
Bright Start has seen record participation in 2025, with more than 500,000 accounts open as of September. Combined with Bright Directions, Illinois now manages over 900,000 college savings accounts totaling $23 billion in assets.
Research suggests that children with even a small amount saved for education are about three times more likely to attend college.
Frerichs also urged parents of newborns to take advantage of the state’s First Steps program, which offers a $50 seed deposit for children born after Jan. 1, 2023. More than 19,000 accounts have been opened this year.
Supporting Educational Opportunities
As trustee and administrator of Illinois’ 529 programs, Frerichs oversees investments that help families save for educational opportunities ranging from two- and four-year degrees to trade apprenticeships. His office also manages billions in state investments and consumer programs including the ICash unclaimed property initiative.
Families interested in opening a Bright Start account can visit BrightStart.com. There is no minimum deposit to get started.
Frerichs Urges Families to Give the Gift of Education This Holiday Season
