Apr 20, 2009 2:01 pm US/Central
Giannoulias Seeks Repayment To Ill. College Plan
CHICAGO (AP) ―
State Treasurer Alexi Giannoulias says he's optimistic that Illinois families will get back the money they lost in a college savings program.
Giannoulias' office and other state treasurers are negotiating with the company that managed the program. If negotiations don't work out, he could end up suing the company, Oppenheimer Funds.
Bright Start is a 529 college savings and investment plan sponsored by the Illinois State Treasurer's Office and managed by Oppenheimer Funds. One of the program's investment options lost $85 million last year.
Speaking on WLS radio Monday, the Democratic treasurer said he thinks a solution ultimately will "make families whole."
(© 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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