From Crain’s Chicago Business | College Illinois has the deepest shortfall of any state-sponsored prepaid tuition program in the United States and is putting more of participants’ college funds on riskier wagers to try to catch up. Get the full story>>
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Despite all the anecdotes in the Crain’s piece it seems like our former treasurer, and fortunately not senator Giannoulias f-ed it up, and Rutherford is continuing to do so, and whoever is using accounting tricks to try to cover it up. Also, whoever is running the plan thinks that the state universities are going to freeze tuition, while the state doesn’t pay them their state aid.
Someone who commented on Crain’s that this is just another Madoff ponzi scheme was right. And, as implied in the main article, someone is going to look to the Illinois taxpayers to bail this fraudulent tax break scheme out, just like state pensions, and all sorts of other stuff in this state.