CHICAGO — Families of Illinois college-bound students received good news recently with the reopening of the College Illinois! 529 Prepaid Tuition Plan. The program — which now has 52,000 active participants — enables families to avoid tuition inflation and increasing student loan debt by prepaying for college while enjoying tax advantages.

To mark the resumption of sales, College Illinois! contracts will be offered at 2011 rates until Dec. 31.

“Because we’re able to offer this particularly low rate — as little as $42 a month — through the end of 2012, we’re encouraging families to consider purchasing a College Illinois! contract now for their children or grandchildren,” said Eric Zarnikow, executive director of the Illinois Student Assistance Commission, which oversees the program. “There has never been a better time to invest in your child’s future.”