College Saving Options

Florida Prepaid begins 2022 open enrollment for college tuition plans

***Deadline to enroll is April 30th ***

Article originally published on Tallahassee Democrat

Aiming to bring urgency to the importance of saving early for college, Florida Prepaid kicked off its annual Open Enrollment period Feb. 1 by offering families who purchase a 529 Prepaid Plan by April 30, 2022 up to $500 in a 529 Savings Plan to be used toward additional college expenses.

Open Enrollment runs Feb.1 through April 30, 2022 and is the annual window when families can lock in future tuition costs at today’s plan prices. Plans start at $45/month. To encourage Florida families to get started saving for college, Florida Prepaid will invest in their college savings journey along with them. For each year of college or university Prepaid Plan purchased this Open Enrollment, Florida Prepaid will put $125 into a Florida 529 Savings Plan, up to $500.

“We know time is valuable, and families are busier than ever — always striving to provide a solid foundation for their children,” said Florida Prepaid College Board Chairman John D. Rood. “We encourage Florida families to research Florida 529 Prepaid Plans this Open Enrollment and find the option that meets their goals and budget.”

Prepaid Plans allow families to save for college in a risk-free, stress-free way, locking in future college costs for less so their child’s college tuition is ready and waiting for them.

All Prepaid Plans are guaranteed by the State of Florida so families can never lose their investment. If a child attends an out-of-state or private college, a Prepaid Plan will pay the same amount as it would pay at a public college or university in Florida, allowing the child to pursue their dreams no matter where that might take them.

This year, families can purchase a 4-Year Florida University Plan for a newborn for as low as $181 a month, a 2+2 Florida Plan for $145 a month, a 2-Year Florida College Plan for $54 a month or a 4-Year Florida College Plan for less than $116 a month.

The Board also offers a 1-Year Florida University Plan which starts as low as $45 per month and covers 30 university credit hours. Multiple family members can purchase a 1-Year Florida University Plan for the same child, sharing in the cost of saving for college.

Families can use the online Prepaid Plan pricing tool to determine what the various plans cost based on a child’s age, as well as explore the different payment options available.

To learn more, visit myfloridaprepaid.com today.

 

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