By: Sharon Aron Baron
If you have a child, now is the time to start saving for college, but you better hurry because you only have a few days left for the open enrollment period for The Florida Prepaid Plan.
Open enrollment is the only time each year when families can purchase one of the Florida Prepaid College Board’s five prepaid tuition plans and prepaid dormitory plans. If your child attends an out-of-state college or private college, the plan will pay the same amount as it would pay at a public college or university in Florida. Every Prepaid Plan is guaranteed by the State of Florida.
“The Prepaid Plan prices for this Open Enrollment period continue to give families options for making college savings simple and affordable,” said Board Chairman Duane Ottenstroer.
This year, families can purchase a 4-Year Florida University Plan for as low as $183 a month, a 2 + 2 Florida Plan for as low as $145 a month or a 4-Year Florida College Plan for less than $115 a month.
The Florida Prepaid College Board also offers the 1-Year Florida University Plan, which allows families to purchase up to four years at a state university in one-year increments as their budgets afford them. Multiple family members can purchase a 1-Year Florida University Plan for the same beneficiary, effectively sharing in the cost of a university degree. The 1-Year Florida University Plan starts as low as $46 per month and covers 30 university credit hours.
In conjunction with the launch of open enrollment, the Florida Prepaid Scholarship Program is awarding ten 2-Year Florida College Plans, provided by the Florida Prepaid College Foundation. The Florida Prepaid Scholarship Program is part of an effort to educate families about our 2-Year Florida College Plans, which start at $53 a month, and the tremendous values to be found in our Florida College System. Florida’s Colleges represent the primary point of access to higher education with 65% of our state’s high school graduates pursuing a postsecondary education beginning at one of 28 Florida Colleges. Currently, 54 percent of junior and senior students at state universities transferred from the Florida College System.
“Our 2- and 4-Year Florida College Plans are a great example of how Florida Prepaid is meeting the diverse needs of families in an evolving higher education landscape,” said Board Executive Director Kevin Thompson. “More and more students are earning their degrees by attending or starting at a state college, and our Prepaid Plans allow families to save for this quality educational path in a way that best fits current budgets. However families save, we encourage them to start now.”
Prepaid Plans are available for purchase during open enrollment, which ends Feb. 29, 2016. For more information, visit www.myfloridaprepaid.com.
Register and enter daily for the chance to win one of ten 2-Year Florida College Plans from the Florida Prepaid College Board at www.floridaprepaidscholarshipprogram.com.