Open Enrollment is Here! Five Budget Tips to Free Up Funds for Your Child’s College Education
It’s never too early for a family to start saving for their child’s college education, and Florida Prepaid is here to help make it simple and affordable.
The 2025 Open Enrollment window — February 1 to April 30, 2025 — will feature Prepaid Plans at their lowest prices in more than 10 years, as well as a special incentive for families with newborns and infants.
- Families with newborns can begin saving for college starting at just $29 per month with a 1-Year Florida University Plan. The initiative is part of Florida Prepaid’s mission to help families save for college stress-free by starting early with affordable, fixed monthly payments.
- These reduced prices result in savings of up to $850 per plan for a 1-Year Florida University Plan, and as much as $3,400 in savings for four years.
- Monthly Prepaid Plan prices are the lowest when the child is the youngest, allowing families to spread out the cost of college over time.
The 1-Year Florida University Plan, covering 30 credit hours, is the most affordable, and it can be “stacked” over time to cover additional years. To see this year’s low prices, view our online pricing calculator to determine which plan best fits your budget and savings goals.
The best part? For the cost of dinner at your favorite fast-food restaurant, you can set your child on a path toward higher education and the career of their dreams. We know saving money can be a bit daunting, so to get you started, we consulted the experts and came up with five ways to shift at least $29 per month to your child’s college savings plan:
- Track Your Spending. The more you know about where your money is going each month, the easier it is to redirect it. There are many apps on the market that make this task simple and seamless, giving you the ability to scan receipts, set spending goals and stay within a budget.
- Get Automated. The old saying, “out of sight, out of mind,” can come in handy when trying to save money. By automating regular transfers or deposits, you give yourself every advantage to keep the savings going.
- Shop Smarter. Especially when buying groceries. First, don’t go when hungry, which only leads to impulse buys! Shop with a list, use a store app or join a loyalty club to find every discount or BOGO available, and always check your pantry to confirm what you already have at home.
- Be Your Own Barista. Invest in a decent coffee maker and brew your own caffeinated delights at home. The daily coffee shop run is fun and rewarding, but it can be pricey at an average of $4 to $8 a drink. Even cutting back to once a week will yield considerable savings.
- Switch to a Cash-Back Credit Card. This move is great for people who are serious about paying off their credit card balance each month. This approach works best when you use the card for regular expenses like dining, gas, groceries and utilities, and then reap the rewards to save even more money.
Saving for college doesn’t have to be daunting or even budget-breaking when you set intentions and find small ways to save a little here and there — and redirect it toward a college fund!
Have more questions? We’ve got answers! Explore our Frequently Asked Questions to learn more about our Prepaid Plans and Savings Plan. And click here to start your savings now!
