Inside these posts: Prepaid tuition

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April 8 at 6:21 a.m.
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Filed under: Education, Investing

Audit criticizes College Illinois managers

By Associated Press

An audit of the College Illinois prepaid tuition program determined the program’s overseers didn’t follow “sound business practices,” or state law, when it hired San Francisco-based Grigsby & Associates for investment advice.

The firm advised College Illinois on debt restructuring, but gave only one opinion to the Illinois Student Assistance Commission — to invest $12.8 million in ShoreBank Corp. The investment was lost last year when ShoreBank collapsed. Get the full story »

April 4 at 8:57 a.m.
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Filed under: Education, Investing

College Illinois halts new investments

From Crain’s Chicago Business | The state agency that runs the College Illinois prepaid tuition program is putting all new investments on hold as it confronts mounting questions over its unconventional strategies for the fund that backs the college savings of 55,000 students. Get the full story>>