Morningstar again ranks Illinois’ Bright Start 529 among the nation’s best college savings plans

CHICAGO, Nov. 9, 2026 /PRNewswire/ — Illinois State Treasurer Michael Frerichs today announced that the Bright Start 529 College Savings Plan has earned its eighth Gold rating from independent investment analyst Morningstar, once again placing Illinois’ direct-sold college savings plan among the best in the nation.

Bright Start 529 is one of only nine Gold-rated 529 college savings plans in the country.

“For the eighth time under my watch, Morningstar has recognized Bright Start 529 as one of the nation’s best college savings plans,” Frerichs said. “That independent recognition confirms what Illinois families deserve: a high-quality, low-cost way to save for their children’s education and future careers. As college costs continue to rise, we remain committed to making it easier for families to plan, save, and invest in their children’s future.”

Morningstar’s annual 529 ratings evaluate plans on key pillars including Process, People, Parent, and Price. Bright Start 529 received positive ratings across all four categories. Since 2015, Frerichs has negotiated more than $250 million in fee reductions for Illinois 529 investors.

In its review, Morningstar praised Bright Start 529 for its “excellent investment menu, strong state oversight, and a well-resourced investment manager.”

“The Illinois State Treasurer’s Office has done an excellent job of looking out for savers,” Morningstar wrote. “The state has consistently pushed providers to get the features it wants… The (investment) glide paths ably balance equity, interest rate, and credit risk as students enter college. This well-constructed plan merits a High Process rating.”

The recognition comes as inflation and education expenses continue to put pressure on family budgets.

“Saving even modest amounts over time can make a meaningful difference for a child’s future,” Frerichs said. “A Bright Start 529 account gives families a practical, flexible tool to prepare for qualified education expenses, whether a student chooses a two-year or four-year college, trade school, technical program, or registered apprenticeship.”

Morningstar’s recognition is the latest high praise for Bright Start 529. In 2026 alone, Bright Start 529 was recognized as among the nation’s best 529 college savings plans by Business Insider, Kiplinger, Forbes and CNBC.

Morningstar also again awarded a Bronze rating to Bright Directions 529, Illinois’ advisor-guided college savings plan. It is one of only 12 medal-rated advisor-sold 529 plans in the country. Morningstar cited Bright Directions 529’s “high-quality investment menu and strong state oversight.”

Under Frerichs, Morningstar has awarded Bright Directions 529 with five Silver and four Bronze ratings. Other evaluators, such as Saving for College, awarded Bright Directions “High Honors” in 2026.

All eight of Illinois’ Gold ratings for Bright Start have come since Treasurer Frerichs took office in 2015. He has prioritized improvements to Illinois’ 529 college savings programs through lower fees, stronger investment options, and better account-holder education and tools.

Bright Start 529 has experienced record account growth in 2026, with more than 550,000 accounts as of September 30. Combined, Bright Start 529 and Bright Directions 529 serve more than 978,000 Illinois 529 accounts with approximately $25 billion in assets.

Research from the Center for Social Development at Washington University in St. Louis has found that children are three times more likely to attend college if they know they have a dedicated college savings account.

Treasurer Frerichs serves as Trustee and Administrator of the Illinois 529 College Savings Programs. Contributions to Bright Start 529 and Bright Directions 529 may be used for qualified education expenses at eligible colleges, universities, technical and vocational schools, and registered apprenticeship programs. Investment growth is tax-free when used for qualified expenses. Illinois taxpayers also may qualify for a state income-tax deduction when contributing to an Illinois 529 plan, including up to $20,000 annually for couples filing jointly.

There is no minimum contribution required to open a Bright Start 529 account. To learn more or open an account, visit BrightStart.com.

About the Illinois Treasurer

The Illinois State Treasurer’s Office is a powerful economic engine that invests in people to drive prosperity, development and growth throughout the state. As State Treasurer, Michael Frerichs (FRAIR’iks) is the state’s Chief Investment and Banking Officer and actively manages approximately $60 billion. The investments help families pay for college and trade school; workers save for a dignified retirement; and local governments process bill payments more efficiently so they can pass along the savings to taxpayers. The office provides financial institutions with money to loan to farmers, small business owners, and qualified individuals at below-market rates because better jobs create stronger communities. The office operates the state’s largest consumer-protection initiative, the missing money ICash program, which has returned a record-breaking $2.65 billion since Frerichs was elected.

For more news about the State Treasurer’s Office, please sign up for our newsletter and follow Treasurer Frerichs on YouTube at @TreasurerMichaelFrerichs, Instagram at IL Treasurer, Threads @iltreasurer, LinkedIn and on Facebook at Invested in You – Treasurer Michael Frerichs.

About Bright Start

The Bright Start Direct-Sold 529 College Savings Program (“Bright Start 529”) and the Bright Directions Advisor-Guided 529 College Savings Program (“Bright Directions 529”) are part of the Illinois College Savings Pool and are designed to qualify as qualified tuition programs under the provisions of Section 529 of the Internal Revenue Code. Bright Start 529 and Bright Directions 529 are sponsored by the State of Illinois and administered by the Illinois State Treasurer, as Trustee.

TIAA-CREF Tuition Financing, Inc. (TFI), serves as the Bright Start 529 plan manager. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, serves as distributor and underwriter for Bright Start 529. Union Bank & Trust Company serves as Program Manager, and Northern Trust Securities, Inc. acts as Distributor of the advisor-sold plan. Investments in Bright Start and Bright Directions are not guaranteed or insured by the State of Illinois, the Illinois State Treasurer, TFI, Union Bank & Trust Company, Northern Trust Securities, Inc., the Federal Deposit Insurance Corporation, or any other entity.

An investor should consider the investment objectives, risks, and charges and expenses associated with municipal fund securities before investing. This and other important information is contained in the fund prospectuses and the Bright Start Program Disclosure Statement and Bright Directions Program Disclosure Statement, which can be obtained from your financial professional, on BrightStart.com, and BrightDirections.com and should be read carefully before investing. You can lose money by investing in a portfolio. Each of the portfolios involves investment risks, which are described in the Program Disclosure Statement.

An investor should consider, before investing, whether the investor’s or designated beneficiary’s home state offers any state tax or other benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s 529 plan. Investors should consult a tax advisor.

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SOURCE Office of the Illinois State Treasurer