TALLAHASSEE, Fla. – Starting Monday, October 16, 2006, Florida families can lock in the cost of college tuition, local fees and dormitory housing by enrolling their children in the Florida Prepaid College Plan. To lock in this year’s plan prices, families must enroll by January 31, 2007.
The Florida Prepaid College Plan is the largest program of its kind in the country, with more than 1.1 million contracts sold and close to 800,000 eligible children enrolled. For the 19th consecutive year, Florida families have an opportunity to provide their children with a college education through timely financial planning to pay for future college expenses.
“Saving for college is one of the most important decisions parents can make for their children’s future, and starting a savings plan early can make a huge difference in making college affordable and attainable,” states Ted Hoepner, Chairman of the Florida Prepaid College Board. “By enrolling in the Florida Prepaid College Plan now, families will not have to worry about tuition increases that may occur by the time their children enter college.”
“The State of Florida and the Florida Prepaid College Board make saving for college a convenient and easy process,” Hoepner continues. Enrollment materials are available in both English and Spanish. Families can request enrollment information by calling 1-800-552-GRAD (4723) or they may enroll online at www.florida529plans.com.
The need for a college degree has never been more important. On average, a college graduate makes $1 million more over a lifetime than a person with a high school diploma*. With the cost of attendance at colleges and universities increasing every year, the Florida Prepaid College Plan is a vital tool in putting college within reach for every Florida child. The Prepaid College Plan makes the dream of attending college a reality for many Florida families.
“In December, I’ll be the first person in my family to graduate from college,” says Liela Chambers, a Prepaid Plan contract holder and University of Florida senior. “Because of my Prepaid College Plan, higher education was a possibility and I’ll graduate without the burden of serious student loans; for that I’m sincerely grateful to my parents.”
The Florida Prepaid College Plan is financially guaranteed by the State of Florida§, so it is a safe way to save. This year, tuition plan prices start at less than $25 a month for the two-year community college plan and less than $82 a month for the four-year university plan. The first payment is not due until April 2007. Once enrolled, the plan payments are fixed and will never increase.
When your child is ready for college, the Prepaid College Plan will cover the actual cost of tuition, local fees and dormitory housing at any Florida public university or community college. And, if your child 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, the child or the child’s parent/guardian must be a Florida resident. Anyone, including parents, grandparents, friends or even businesses, can purchase a plan.
Enrollment for the Florida Prepaid College Plan started October 16 and runs through January 31, 2007. For enrollment information, visit www.florida529plans.com or call 1-800-552-GRAD (4723).