Consumer-friendly savings options and comprehensive prepaid plans give Florida families an opportunity to safely secure funding for their child’s college education, allowing families on any budget to begin planning for the future.
Tallahassee, FL (PRWEB) October 15, 2012
The Florida Prepaid College Board has announced its 2012-2013 annual enrollment period – beginning Monday, Oct. 15, parents can purchase a Florida Prepaid College Plan to prepay higher education costs at this year’s plan prices until the Jan. 31, 2013 deadline. This open enrollment season, families can select one of four Prepaid Plans, which will cover tuition and most mandatory fees at Florida’s 12 state universities and 28 colleges.
In 2011, The Project on Student Debt found that 49 percent of 2010 graduates left college with more than just a degree – taking with them an average debt of $21,000. “With college tuition rising at alarming rates in the U.S., we recognize how critical it is for families to start saving for their children’s future higher education costs today,” said Chairman Duane Ottenstroer of the Florida Prepaid College Board. “The consumer-friendly savings options and comprehensive prepaid plans give Florida families an opportunity to safely secure funding for their child’s college education, allowing families on any budget to begin planning for their child or grandchild’s future with peace of mind.”
The Florida Prepaid College Board’s plan options include:
- 2-Year Florida College Plan: prepays 60 lower- division semester hours of tuition, registration fees and local fees at a Florida College (formerly known as a community college).
- 4-Year Florida College Plan: launched in 2010 in response to the evolving Florida College landscape, this plan prepays the tuition, registration fees and local fees for 60 lower division as well as 60 upper division semester hours at a Florida College.
- 2 + 2 Florida Plan: prepays 60 lower division semester hours of tuition, registration fees and local fees at a Florida College and 60 undergraduate semester hours of tuition, registration fees, tuition differential fee and local fees at a state university in Florida.
- 4-Year Florida University Plan: prepays tuition, registration fees, the tuition differential fee and local fees for 120 semester hours at any of the 12 state universities in Florida.
Since 1988, families have purchased more than 1.5 million Florida Prepaid College Plans, making it the largest and longest continuous operating prepaid plan in the nation. Nearly one in ten children in the state has a Florida Prepaid College Plan. When your child is ready for college, the Florida Prepaid College Plan will cover the cost of tuition and most required fees at Florida’s 12 state universities and 28 Florida Colleges (formerly community colleges) and can also include dormitory housing. If the student decides to attend an out-of-state college, technical school or a private college in Florida, the value of the plan may be transferred to any eligible educational institution.
If the beneficiary decides not to attend college, the plan may be transferred to another member of the family. Or, families can receive full refunds at any time. Additionally, the Florida Prepaid College Plan is financially guaranteed by the State of Florida, dispelling concern for loss of investment. To qualify for a plan, the child or the child’s parent/guardian must be a Florida resident. Parents, grandparents, friends and even businesses can purchase a plan.
For more information on plan options or to sign up online for the Florida Prepaid College Plan, families can visit http://www.myfloridaprepaid.com or call 1-800-552-GRAD (4723) to request an Enrollment Kit in English or Spanish and speak with a customer service representative.
*The Florida Prepaid College Board does not provide tax or investment advice regarding its Prepaid College Plan or Florida 529 Savings Plan. The Florida Prepaid College Plan may not cover certain imposed fees by state universities and state colleges. The Florida 529 Savings Plan is subject to market conditions.
Please carefully review the Disclosure Statement and Participation Agreement and consult with your advisor(s) about risks before investing in your child’s education.