Higher education is one of the best investments a person can make in a lifetime and any step a family can take to help secure funds for their children’s higher education is invaluable.
Tallahassee, FL (PRWEB) May 29, 2013
In celebration of National “529 College Savings Day,” the Executive Office of the Governor and the Florida Prepaid College Board are working together to increase awareness among Florida families about the importance of saving for children’s higher education expenses. To encourage more families to take the important first step and begin saving now, the Florida Prepaid College Board will waive the $50 application fee for all Florida 529 Savings Plan accounts opened through June 30, 2013.
Governor Rick Scott said, “My priority is to make sure that every Florida family can find a job and get a great education while enjoying a low cost of living. I am happy that the Florida Prepaid College Board is working to make the dream of college a reality for families all across Florida. We must continue to encourage all families to save for higher education while keeping college affordable in the Sunshine State. Which is why we must hold the line on tuition, Florida should be proud that we have one of the most affordable high-quality college and university systems in the country – now also offering $10,000 baccalaureate degree programs.”
In a continued effort to provide families with sound investment options and opportunities for meaningful growth, the Florida 529 Savings Plan has further diversified its available equity options. The Board is pleased to announce six new investment options to provide families increased flexibility in preparing for future education costs. Now offering a total of 11 investment options, families have the opportunity to choose from a greater variety of portfolios and investment funds based on personal preference and savings goals.
“Higher education is one of the best investments a person can make in a lifetime and any step a family can take to help secure funds for their children’s higher education is invaluable,” said Board Chair Duane Ottenstroer. “A Florida 529 Savings Plan allows parents, of all income levels, the ability to work within their budget to set aside funds that will serve as a platform in supporting their loved one’s greatest aspirations.”
A tax-advantaged investment plan, Florida 529 Savings Plans are designed to encourage saving for future higher education expenses. Withdrawals from 529 plans for qualified education expenses, such as tuition, fees, housing and textbooks are free from federal income tax. To open an account, families make an initial deposit of $250 or set up a monthly investment for as little as $25 a month and future contributions are not bound by structured payment schedules. Additional contributions can be made at any time and by anyone, providing a great opportunity for friends and family to invest in a child’s future education.
To learn more about Florida 529 Savings Plan and purchase today, visit http://www.Florida529SavingsPlan.com.
About The Florida Prepaid College Board:
The Florida Prepaid College Board, which operates and oversees the Florida Prepaid College Plans, is a State of Florida agency. The Florida Prepaid College Board is committed to helping Floridians save for future qualified higher education expenses by providing a cost effective, financially sound Prepaid College Plan and other college savings programs. The Florida Prepaid College Plan is the largest and most successful prepaid college plan in the nation. Nearly one out of 10 Florida children from newborns to high school students has a Florida Prepaid College Plan. Families are offered two ways to save for their children and grandchildren’s college education: the Florida Prepaid College Plan and the Florida 529 Savings Plan, both are qualified plans, so earnings on withdrawals which are used for qualified college expenses are tax-free. Created by the 1987 Legislature, the Florida Prepaid College Plan was first sold in 1988. It was designated as “The Stanley G. Tate Florida Prepaid College Program” in 2006 to honor its founding chairman. No taxpayer money is used to operate the Florida Prepaid College Plans.
For more information, please visit http://www.myfloridaprepaid.com or call 1-800-552-GRAD (4723).
*The Florida Prepaid College Board does not provide tax or investment advice regarding its Prepaid College Plan or its College Investment Plan. The Florida Prepaid College Plan may not cover certain imposed fees by state universities and state colleges. The Florida College Investment 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