Prepaid Plan payments deferred until July 20 to provide financial flexibility
In an effort to help Florida families who may be struggling due to COVID-19, Florida Prepaid is deferring payments for current and new Prepaid Plan customers until July, in an effort to offer reassurance to parents in what is proving to be a challenging time for families, both emotionally and financially.
Our Chairman John D. Rood says it best: “As Florida continues to cope with the many impacts of COVID-19, our message to families is clear: the Florida Prepaid team is here for you, and we remain committed to our founding mission of making college savings attainable for Florida families. We hope that the deferred payments will provide some financial relief during this challenging time.”
Families can choose not to defer their payments. However, Florida Prepaid wants to extend this courtesy to customers who might need it. New customers who purchased Prepaid Plans during the current Open Enrollment period will not have to provide their first payment until July 20. Current customers will also have a grace period, with their next scheduled payment moved to July 2020.
Since Open Enrollment began February 1, more than 20,000 families have started saving for college.
Also, if you enroll in a new Prepaid Plan during the remainder of this Open Enrollment period, your $50 application fee will be automatically waived.
“As uncertain as these times are, we encourage Florida families to take comfort in knowing that Prepaid College Plans offer certainty and security for your college savings,” said Kevin Thompson, Florida Prepaid Executive Director. “All Prepaid College Plans are guaranteed by the State of Florida, ensuring families can never lose their investment.”