For Immediate Release
October 17, 2016
- The 2016-17 Open Enrollment period runs Oct. 15, 2016 through Feb. 28, 2017
- Plans to be offered starting at less than $47 per month, providing a variety of affordable options for families
- For the third consecutive year, Plan prices remain near historic lows
- Families have less than one week left to enter to win one of 10 Two-Year Florida College Plans
TALLAHASSEE, Fla. – Florida families can now take advantage of prepaid tuition plans that remain near historic lows for the third year running, following Saturday’s kickoff of the 2016-17 Open Enrollment period. Open Enrollment is the only time each year that families can purchase one of the Florida Prepaid College Board’s five prepaid tuition plans and prepaid dormitory plans. This week also marks the last chance for Florida families to enter to win one of 10 Two-Year Florida College Plans, through the Florida Prepaid Scholarship Program.
“Prepaid Plan prices for this Open Enrollment period remain near the historic lows we have seen for the past three years,” said Board Chairman John Rood. “We encourage families to start saving now, by selecting the plan that best fits their college savings goals.”
This year, families can purchase a 4-Year Florida University Plan for a newborn for as low as $187 a month, a 2 + 2 Florida Plan for under $148 a month or a 4-Year Florida College Plan for less than $117 a month. The 1-Year Florida University Plan for a newborn starts as low as $47 per month and covers 30 university credit hours. Multiple family members can purchase a 1-Year Florida University Plan for the same beneficiary, effectively sharing in the cost of a university degree.
If a child attends an out-of-state college or private college, Prepaid Plans will pay the same amount as they would pay at a public college or university in Florida. Also, if a child receives a scholarship, Plan purchasers can get a refund for the same amount as the plan would pay a public college or university in Florida. Every Prepaid Plan is guaranteed by the State of Florida.
Families also have just a few days left to enter to win one of ten 2-Year Florida College Plans, provided by the Florida Prepaid College Foundation. The Florida Prepaid Scholarship Program is helping to educate families about the importance of saving for college and the benefits of 2-Year Florida College Plans, which start at just $54 a month for a newborn. More than half of junior and senior students at state universities transfer from the Florida College System.
“Our 2- and 4-Year Florida College Plans allow families to save for college in a more affordable manner, which is part of our commitment to making saving simple and accessible,” said Board Executive Director Kevin Thompson. “However families save, we hope they will use this Open Enrollment period to learn more and start saving for college.”
Prepaid Plans are available for purchase during Open Enrollment, which runs October 15, 2016 – February 28, 2017. For more information, visit www.myfloridaprepaid.com. Families can register and enter daily through October 23, 2016 for the chance to win one of ten 2-Year Florida College Plans from the Florida Prepaid College Foundation at www.floridaprepaidscholarshipprogram.com.
About the Florida Prepaid College Board
The Florida Prepaid College Board manages the Stanley G. Tate Florida Prepaid College Program and the Florida 529 Savings Plan. Both are tax-favored 529 college savings plans authorized by Section 529 of the Internal Revenue Code. In 1987 the Florida Prepaid College Program was created by the Florida Legislature and the commitment and dedication of Mr. Stanley G. Tate to provide Florida families with an affordable means to save for their children’s future college education. The first Florida Prepaid College Plans were sold in 1988, and were augmented with the addition of the Florida 529 Savings Plan in 2002. Florida Prepaid is the largest, longest running and most successful prepaid plan in the nation with more than 1.6 million Florida Prepaid College Plans purchased and more than $6.7 billion invested in Prepaid Plans by Florida families. The 529 Savings Plan has more than 50,000 active accounts with a market value of approximately $449 million. To see how Florida Prepaid helps families, visit here.