Skyrocketing college costs require savings plans many families lack
Recent surveys estimate just over half of US families are saving for college2 . State-operated 529 college savings plans are an effective way for families to plan and save for future college costs, but only 3% of families currently use them3 .
The Office of the Illinois State Treasurer (Treasurer) administers two 529 plans to help its residents save for college. In order to increase the number of families saving for college, the Treasurer and Civis Analytics used data science techniques to identify the people most likely to sign up for a college savings plan.