By Sharon Aron Baron
Saving for college can be hard. Coral Springs residents Helena and Carl Yeaman had three boys to save for, but thanks to Florida Prepaid College Board, it was a cinch.
“We signed up for them when they were very little, so this made the financial burden much less,” said Helena.
This month Florida Prepaid College Board has started its annual Open Enrollment with five affordable plans starting at $45 per month, each built for flexibility and guaranteed by the State of Florida.
The Yeaman’s oldest and youngest son graduated from Florida State University and Florida International University while using Florida Prepaid. Although they purchased a plan for their middle child, college just wasn’t for him, so the couple cashed out.
The Florida Prepaid College Board encourages Floridians to plan for a brighter tomorrow by finding a plan that meets their budget and goals. Last year, Florida families purchased more than 50,000 plans, committing to their children’s future even as the pandemic hit.
In a recent study conducted by the Board, more than 90 percent of Florida parents say college is more important than ever or just as important in the wake of COVID-19.
“As challenging as things continue to be, we are encouraged to see how many Florida families are looking to brighter days ahead and the importance of a college education,” said Board Chairman John D. Rood. “We hope that every family will consider enrolling in a Prepaid Plan, which offers them secure, guaranteed and affordable college savings options. Prepaid Plans offer certainty in an uncertain world.”
Prepaid Plans are designed to help families maximize their college savings by picking a plan to fit their savings goals and locking in the future cost of college for less.
The earlier a family starts saving for a child’s college education, the less they need to save each month. This allows families to start saving early, so their child’s college tuition is ready and waiting for them.
2021 Florida Teacher of the Year Krista Stanley attended Florida State University using a Prepaid Plan and encourages families to save early for their children, just as her parents did.
“I am grateful for this program and the flexibility it offers to parents across the State of Florida,” said Stanley. “Florida Prepaid changed my life and allowed me to be financially prepared before, during, and after college.”
If a child attends an out-of-state or private college, a Prepaid Plan will pay the same amount as it would pay at a public college or university in Florida.
The State of Florida guarantees every Prepaid Plan, so you can never lose your investment, and a child has up to ten years after high school graduation to use the plan.
With plans starting at $45/month for a 1-Year Florida University Plan for a newborn, there is no better time to start saving.
The Board also offers five other Prepaid Plans, including the most popular 4-Year Florida University Plan and the 1-Year University Plan.
Families can use the online Prepaid Plan pricing tool to determine what the various plans cost based on a child’s age, as well as explore the available payment options.
Open Enrollment runs through April 30, 2021. For more information, visit www.myfloridaprepaid.com.
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