By Sharon Aron Baron
The window for Florida Prepaid College open enrollment is almost shut — at least in 2022.
Each of their college plans is guaranteed by the state and starts at $45 a month for a newborn. As an incentive, families who enroll in a Prepaid Plan before April 30, 2022, will earn a bonus of up to $500 in a Florida 529 Savings Plan for additional college expenses.
Florida Prepaid Board Chairman John D. Rood knows Florida families are being impacted by inflation each day on their grocery bills and in their gas tanks and reminds them of the risk-free, inflation-proof nature of the plans.
“Prepaid Plans offer security and affordability at a time when families want and need to know they can depend on something in their budgets remaining stable.”
More than 22,000 families have enrolled in a guaranteed and affordable Florida 529 Prepaid Plan during this year’s open enrollment period, choosing between five prepaid tuition plans, as well as the optional prepaid dormitory plan.
Florida Prepaid can be used at the following schools — formerly community colleges
- Broward College – Fort Lauderdale
- Chipola College – Marianna
- College of Central Florida – Ocala
- Daytona State College – Daytona Beach
- Eastern Florida State College – Cocoa
- Florida Gateway College – Lake City
- Florida Keys Community College – Key West
- Florida SouthWestern State College – Fort Myers
- Florida State College at Jacksonville – Jacksonville
- Gulf Coast State College – Panama City
- Hillsborough Community College – Tampa
- Indian River State College – Fort Pierce
- Lake-Sumter State College – Sumterville
- Miami Dade College – Miami
- North Florida Community College – Madison
- Northwest Florida State College – Niceville
- Palm Beach State College – Lake Worth
- Pasco-Hernando State College – New Port Richey
- Pensacola State College – Pensacola
- Polk State College – Winter Haven
- Santa Fe College – Gainesville
- Seminole State College – Sanford
- South Florida State College – Avon Park
- St. Johns River State College – Palatka
- St. Petersburg College – St. Petersburg
- State College of Florida – Manatee-Sarasota
- Tallahassee Community College – Tallahassee
- Valencia College – Orlando
And State Universities:
- Florida A&M University – Tallahassee
- Florida Atlantic University – Boca Raton
- Florida Gulf Coast University – Fort Myers
- Florida International University – Miami
- Florida Polytechnic University – Lakeland
- Florida State University – Tallahassee
- New College of Florida – Sarasota
- University of Central Florida – Orlando
- University of Florida – Gainesville
- University of North Florida – Jacksonville
- University of South Florida – Tampa
- University of West Florida – Pensacola
According to Florida Prepaid, a child has up to ten years after high school graduation to use the plan. If a child attends an out-of-state or private college, Florida Prepaid will pay the same amount as it would pay at a public college or university in Florida.
This year, families can purchase a 4-Year Florida University Plan for a newborn for as low as $181 a month or a 2-Year Florida College Plan for just $54 a month.
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.
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.
Kevin Thompson, Florida Prepaid Executive Director said, “Enrolling in one or two years of the 1-Year Florida University Plan is a great way for families that already have a 529 savings and investment plan to round out their savings strategy and reduce inflationary risk in their college savings portfolio.”
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