Public Accountability Report Public Accountability Report

2022 Prepaid Tuition Program
Mission Statement To encourage and better enable Illinois families to finance the future cost of higher education in an affordable manner.
Program Goals and Objectives
  1. Ensure an orderly wind-down of the program, providing essential information to contract-holders, notifying contract-holders of any expiring benefits, and working to allow contract-holders to receive the maximum possible benefit from their arrangement.
    Source of Funds General Revenue Fund Statutory Authority 110 ILCS 947/20
    Fiscal Year 2023 Target/Projected Fiscal Year 2022 Actual Fiscal Year 2022 Target/Projected Fiscal Year 2021 Actual Fiscal Year 2020 Actual
    Input Indicators
    Total expenditures - all sources (in thousands) (a) $ 1,267.0 $ 252,271.9 $ 2,000.0 $ 1,776.4 $ 1,875.2
    Total expenditures - state appropriated funds (in thousands) (a) $ 1,267.0 $ 252,271.9 $ 2,000.0 $ 1,776.4 $ 1,875.2
    Average monthly full-time equivalents 18.0 12.0 18.0 16.0 16.0
    Output Indicators
    Website visits 75,000 88,397 90,000 91,895 93,686
    Outcome Indicators
    New contracts established 0.0 0.0 0.0 0.0 0.0
    Cumulative College Illinois! contracts purchased 73,226 73,226 73,226 73,226 73,226
    Purchased value of new contract sales (in millions) $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0
    Estimated years of college purchased 0.0 0.0 0.0 0.0 0.0
    Cumulative years of college purchased 216,618 216,618 216,618 216,618 216,618
    Total number of beneficiaries (students) who used benefits N/A 8,096 N/A 8,980 9,790
    Amount paid to schools (in millions) N/A $ 100.5 N/A $ 107.8 $ 116.8
    External Benchmarks
    College Illinois! national rank (total assets) among other prepaid tuition programs N/A 7.0 N/A 8.0 8.0
    Efficiency/Cost-Effectiveness Indicators
    Total marketing cost per contract (in dollars) N/A $ 0.00 $ 0.00 $ 0.00 N/A
    Footnotes
    College Illinois® received a one-time cash infusion from the General Assembly that will be used to wind down the program and pay out remaining contractual obligations.

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