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This is a busy time of year for South Florida families. The school year is in full swing, and your children are taking on the academic challenges necessary to prepare them for not just the next grade level but college and a successful career. Extracurricular sports and activities are keeping your family busy after school and on weekends.
But it’s never too busy to make sure we are doing the best for our children as they do all these things to prepare for college. That’s why the Florida Prepaid College Board encourages families to learn more about college costs – and the options available to start saving now and avoid debt later. There are just a few more weeks left in Open Enrollment, the only time each year that families can purchase one of the Florida Prepaid College Board’s five prepaid tuition plans and prepaid dormitory plans.
The Florida Prepaid College Board is the largest and longest-running prepaid tuition program in the nation. The program allows families to prepay the future cost of college tuition, specified fees and dormitory housing.
Prices for Florida Prepaid Plans remain near historic lows for the third year running, and the Florida Prepaid College Board is encouraging families across the state to research the plan that best fits their college savings goals at myfloridaprepaid.com.
This Open Enrollment, families can purchase a 4-Year Florida University Plan for a newborn for as low as $187 a month, a 2 + 2 Florida Plan for under $148 a month or a 4-Year Florida College Plan for less than $117 a month. The 1-Year Florida University Plan for a newborn starts as low as $47 per month and covers 30 university credit hours. Multiple family members can purchase a 1-Year Florida University Plan for the same beneficiary, sharing in the cost of a university degree.
If the 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, so you will never lose your investment.
And considering that more than two-thirds of Florida’s jobs will require education beyond high school by 2025, according to state projections, it is clear that college savings will be more important than ever. Research also shows that children with dedicated college savings are two and a half times more likely to graduate from college. So, what are you waiting for, South Florida?