In 1987, Stanley G. Tate fought to put higher education within the reach of the average Florida family, and chose the Florida Prepaid College Program as his way to accomplish it. Tirelessly, he championed the college savings program until, on September 22, 1988, Governor Bob Martinez’s twin granddaughters became the first two beneficiaries, bringing Mr. Tate’s vision into a reality.
The program grew quickly, repaying the “start-up” loan it had received from the Florida Legislature in just one year and remaining self-supporting ever since. Florida Prepaid College Plans have been offered every year since, with the Florida 529 Savings Plan being added in 2002. This gave Florida families even more flexibility and options to save for college.
For more than 30 years, the Florida Prepaid College Board has managed the largest and most successful prepaid program of its kind. More than 1 million families have saved for college with Florida Prepaid College Plans, and more than 561,000 students have attended college using Prepaid Plans. The Board also oversees the Morningstar medal-winning Florida 529 Savings Plan, which was recently enhanced to include even more investment options. Certainly, Mr. Tate’s legacy will continue to live on through the children the program helps year after year.