Yes. Prepaid and Savings Plans work well together. For example, you could use a Prepaid Plan to cover up to four years of tuition and fees and a Savings Plan to pay for books, a computer, room and board. If you don’t want to use a Prepaid Plan to save for all four years of tuition and fees, you could purchase a 2-Year Florida College Plan or one or more 1-Year University Plans and also open a Savings Plan.
When deciding how to save, focus on your investment preferences. For example, do you prefer guaranteed investments (Prepaid) or investment control (Savings)?
Also, consider what you can afford. You may want to, but you don’t have to save for everything. Parent surveys suggest that most parents anticipate paying 40% of their child’s higher education expenses.
