Yes you can! That Latte Could Open the Door to College Savings!
Mark your calendars Florida families – Prepaid Plan Open Enrollment ends February 28th! Don’t miss your chance to lock in this year’s plan prices so you can check saving for college off your list.
We are pretty excited about this year’s prices, too. The 4-Year University Plan starts at less than $187 a month for a newborn, and the 1-Year University Plan starts as low as $47 a month.
If you put that $5 daily latte aside 10 days out of the month, you could cover your monthly Prepaid Plan payment for a 1-Year University Plan!
Even at those prices, we know it can seem a little overwhelming to add another monthly bill to your expenses. But we’ve been doing a little math over here, and researching some of the common things that make up our “extracurricular spending.”
We were pleasantly surprised to see that even making a few small changes now can allow a family to save for college each month without feeling pinched.
- The 1-Year Florida University Plan starts at less than $47 a month for a newborn. A Tall Pumpkin Spice Latte, or a medium Coolata, each cost almost $5. So if you put that $5 daily latte aside 10 days out of the month, you could cover your monthly Prepaid Plan payment for a 1-Year Florida University Plan! And by the time your child goes to college, she will have a year (or 30 credit hours) paid for. The happy feeling you get seeing her attend college with less debt will probably beat any caffeine jolt!
- The 2-Year Florida College Plan covers the first two years of tuition and specified fees of a student’s postsecondary education at one of Florida’s 28 state colleges (and the value can be applied to other public and private institutions here or outside Florida.) This year, the monthly cost starts at about $55 for a newborn. But if you go to the movies as a family, you might be paying close to that or more if you’re buying evening show tickets (from $8-$16 per person) and then getting drinks, popcorn and candy. By turning just one weekend movie trek into a stay-at-home movie night each month, you could be putting that savings toward a 2-Year College Plan! It is amazing how the dollars add up, isn’t it?
You can get more info on Plan types and prices at myfloridaprepaid.com.