Florida Prepaid College Board Opens 20th year of Enrollment
Offering families affordable ways to save for college
TALLAHASSEE - The Florida Prepaid College Board sold its first prepaid plan in 1988. Since then, about 184,000 students have used their Florida Prepaid College Plan benefits at universities and colleges, and one out of 10 young Floridians, from babies to high school students, currently are enrolled in the Florida Prepaid College Plan.
The Florida Prepaid College Board has opened its 20th annual enrollment. The new 2007-08 Florida Prepaid College Plan prices, posted at www.florida529plans.com, are available from October 15, 2007 until the sign-up deadline of January 31, 2008. The price of a four-year university tuition plan starts at about $3 a day for a newborn. The two-year community college tuition plan begins at about $1 a day.
Since 1988, families have purchased more than 1.2 million Florida Prepaid College Plans, making it the largest and most successful prepaid plan in the nation.
The Florida Prepaid College Plan allows families to prepay for tuition, local fees, a new tuition differential fee and dormitory housing at today's plan prices. The new tuition differential fee plan covers the cost of this fee that eventually may add up to as much as 30 to 40 percent of regular tuition at research-level state universities.
The Florida Prepaid College Plan is financially guaranteed by the state of Florida, so it is a safe way to save. Families don't have to worry about the stock market or remembering to put money aside for college. Once a child is enrolled in the Florida Prepaid College Plan, payments do not increase.
When a child is ready for college, the Florida Prepaid College Plan covers the actual cost at any Florida public university or community college. If the student decides to attend a private college, an out-of-state college or a vocational/technical school, the value of the plan may be transferred to any eligible institution. 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.
Families can sign up online for the Florida Prepaid College Plan at www.florida529plans.com, or call 1-800-552-GRAD (4723) to request an Enrollment Kit and paper application in English or Spanish and to speak with a customer representative.
To obtain current plan prices, families must enroll by January 31, 2008. If they enroll after January 31, 2008, they will be subject to plan prices that go into effect as of October 2008.
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