Illinois Treasurer Helps Launch National Research Group on College Savings Plans

CHICAGO — A new national research partnership focused on education savings plans has been launched by the University of Chicago Becker Friedman Institute for Economics, Stanford University’s Initiative for Financial Decision Making and the National Association of State Treasurers. The National Consortium on Education Savings Research will study how families use 529 college savings plans and identify ways to increase participation, especially among underserved families. Illinois is one of five founding state partners, along with Maine, Pennsylvania, Utah and Virginia. The effort was first proposed by Illinois State Treasurer Michael Frerichs during his term as president of the National Association of State Treasurers. Researchers will use data from participating states and program administrators to examine savings behavior, financial literacy and factors that affect enrollment in 529 plans. The consortium is scheduled to begin data collection and preliminary analysis later in 2026 and will make its public debut at a national treasury management conference in Oklahoma City.