TALLAHASSEE — Friday, Nov. 1, the Florida Prepaid College Board kicked off its annual Open Enrollment period. Through Feb. 28, 2014, parents can purchase a Florida Prepaid College Plan to prepay higher education costs at the current plan prices. Committed to educating families on the importance of saving for education, the Board has also launched a new website to help Florida families better understand college savings and plan options. In addition, lump-sum prices are the same for Florida families - in other words, if a parent of a second grader missed out on pricing last year, they can enroll their now third grader for the same lump-sum price this year.
“For more than 25 years, the Board has been helping families save for college. We are excited to share the new features of our website and even more excited that we have been able to hold lump-sum plan prices consistent with last year,” said Florida Prepaid College Board Chairman Duane Ottenstroer. “It is important that families begin planning ahead and we have a plan to fit any budget. It’s never too early or too late to start saving.”
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. While designed for use at a Florida College or State University, the flexibility of a Florida Prepaid Plan allows the amount covered by the plan to be applied to schools nationwide as well a technical school or a private 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. Prepaid Plan options include:
· 2-Year Florida College Plan: Covers tuition and most fess for 60 credit hours at a Florida College.
· 4-Year Florida College Plan: Covers tuition and most fess for 60 credit hours at a Florida College.
· 2 + 2 Florida Plan: Covers tuition and most fees for 60 credit hours at a Florida College and for 60 credit hours at a State University.
· 4-Year Florida University Plan: Covers tuition and most fees for 120 credit hours at a State University.
The 4-Year University Plan is just one option for getting a Bachelor’s Degree. Florida Colleges now offer Bachelor’s Degree programs and an increasing number of families are recognizing the value in the 4-Year Florida College Plan as well as the 2 + 2 Florida Plan, which allows students to obtain a Bachelor’s degree and the experience of both a State College and a State University. For those that purchase a 2 + 2 Florida Plan or a 4-Year University Plan, the Board also offers an optional add-on University Dormitory Plan.
Additionally, the Florida Prepaid College Plan is - and always has been - financially sound. It is also guaranteed by the state of Florida, families have nothing to lose, 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 and friends can purchase a plan.
For more information on plan options and prices, and to purchase a plan, visit www.myfloridaprepaid.com.
About the Florida Prepaid College Program
For more than 25 years, the Florida Prepaid College Board has provided families with financially sound options to help save for college. Since 1988, Florida families have purchased more than 1.6 million Florida Prepaid College Plans and invested more than $6.7 billion, making it the largest and longest continuous operating prepaid plan in the nation. The Florida Prepaid College Board is committed to helping Floridians save for future qualified higher education expenses through the Florida Prepaid College Program and the Florida 529 Savings Plan. Florida Prepaid is the largest, longest running and most successful prepaid plan in the nation with nearly one out of 10 Florida children, from newborns to high school students, currently having a Florida Prepaid College Plan. Created in 1987 by the Florida Legislature, the Florida Prepaid College Board sold the first prepaid tuition plan in 1988 and was named “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 Program.