I was asked recently to name my favorite teacher for a Golden Apple celebration. It was difficult to choose from the many impactful educators in my life.
I thought of my kindergarten teacher, Ms. Miller. She was an early influence in shaping how I thought about myself. My first memory is that our class had to take a two-day test. I missed a day of school and had to make it up. I think I completed both sections of the exam before many of my classmates had finished one.
What I clearly remember is how she complimented me. She made me feel smart and confident.
Another memory involved the chart Ms. Miller put up with a list of all the students’ names. She would add gold stars for good behavior or other things students did well. I really enjoyed seeing the number of gold stars next to my name grow.
Eventually, chasing gold stars was replaced by getting good grades and then graduations. I thought that I had outgrown the joy of receiving gold stars, but it turns out I haven’t.
Last week, our Bright Start 529 college savings program received its eighth Gold star from Morningstar. This independent firm analyzes all the 529 college savings programs in the country, and the Gold rating is their highest distinction.
Morningstar praised Bright Start 529 for its “excellent investment menu, strong state oversight, and a well-resourced investment manager.”
“The Illinois State Treasurer’s Office has done an excellent job of looking out for savers,” Morningstar wrote. “The state has consistently pushed providers to get the features it wants… The (investment) glide paths ably balance equity, interest rate, and credit risk as students enter college. This well-constructed plan merits a High Process rating.”
Morningstar was not alone in giving gold stars to Bright Start. This year alone, Bright Start was recognized as among the nation’s best 529 college savings plans by Business Insider, Kiplinger, Forbes and CNBC.
Bright Start hadn’t received any Gold ratings before I took office. I made helping parents save for college a priority. We lowered fees, offered stronger investment options, and added an app for convenience.
We didn’t completely overhaul our Bright Start program just to receive accolades. We did it because validators like Morningstar help give families confidence to save for their children’s future with us.
And parents noticed. Between Bright Start and Bright Directions (the financial advisor-guided plan), we now serve more than 978,000 Illinois 529 accounts with approximately $25 billion in assets.
By saving in a 529 plan, parents are letting their children know that they are smart. They are telling them they are college material. They are showing that they believe in them.
This is what Ms. Miller did for me. She helped set me on an educational pathway toward success. I am pretty certain that Ms. Miller did not support me so that I would thank her several decades later. But I’m able to do that today because of her dedication to children and because of many other teachers like her.
If I could, I would give her a Gold Star.
Sincerely,
Michael