States Offers Refund After Bright Start Mixup

CHICAGO (CBS) — About 7,300 people who contributed money to the state’s Bright Start college savings plan–thinking they’d get a $250 matching contribution and didn’t–have a chance to get their money back.

It was a promotion that didn’t work exactly as intended.

At the end of last month, the Illinois Treasurer’s office offered to match contributions up to $250 dollars to Bright Start–for the first 2,500 people who contributed.

The problem: People were still making contributions after June 3, which is when the cutoff of 2,500 was reached.

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And those latecomers didn’t get a matching contribution from the state.

Now, the office of State Treasurer Dan Rutherford says those 7,300 people – the ones who contributed after the cap of 2,500 was reached but before the State Treasurer’s website was updated – can get their money back–with no penalty or fee.

More details on the Bright Start program.

  • whyimconservative

    Since when was it the government’s responsibility to take money from me to give to someone else? It’s so easy to encourage people to save for college, by promising to give them someone else’s money.

  • Joe Patroni

    Dan, you goofed on this one. You made this one a “race to the mailbox.” Some people got home from work later than others and yet others learned about it on-line by pure chance or luck. Should have just distributed the money evenly per share and everyone would have been happy with a few buck. Now, you have a few happy campers and a horde of angry people. Was this another one of Illinois “who you know deals?” Madigan’s list? Need a sponsor?

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