Florida Prepaid Scholarship Program promotes the importance of saving for college
Tallahassee, FL – The Florida Prepaid College Foundation has awarded 10 families a 1-Year Florida University Plan scholarship worth approximately $7,000, as part of its ongoing commitment to increase awareness of college savings options. The winners entered the Florida Prepaid Scholarship Sweepstakes at myfloridaprepaid.com/scholarship and were selected at random.
“We are so pleased to give these 10 families the gift of education,” said Foundation Chairman Duane Ottenstroer. “By covering costs for the first year of college, we are helping to set these students on a path toward a college degree along with the opportunities that follow.”
The winners are:
- Reyna Cardoza, Miami
- Mark Jarvis, Jacksonville
- Kathleen Miller, Ft. Lauderdale
- Andrea Moore, Palm Harbor
- Jamie Pacheco, Altamonte Springs
- Jennifer Ricatti, Tampa
- Claire Bello Roufai, Newberry
- Elisabeth Simpson, Live Oak
- Nicholas Vaccarella, Estero
- Marlene Yepez, Miami
The 1-Year Florida University Plan, newly introduced this Open Enrollment period, covers 30 university credit hours. The plan is meant to allow families to save for college gradually in a way that is more affordable, and to allow relatives to share in the cost of a child’s college education by each purchasing one of the four years needed to earn a degree.
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 35,000 active accounts with a market value of more than $375 million.
About the Florida Prepaid College Foundation
The Foundation administers several innovative scholarship programs designed to help students achieve their dream of earning a college education. The Stanley Tate Project STARS (Scholarship Tuition For At- Risk Students) Scholarship Program is the Foundation’s hallmark program. Since the Stanley Tate Project STARS scholarship program began, 29,000 scholarships have been awarded to low-income students at risk of dropping out of school, and who otherwise might not have had the opportunity to attend college. In addition to the Stanley Tate Project STARS program, the Foundation sponsors scholarship programs in recognition of Hispanic Heritage Month and Black History Month. When combined with the number of scholarships purchased for the Stanley Tate Project STARS program and scholarships purchased by other charitable organizations, the Foundation has awarded almost 37,700 college scholarships, and more than 20,800 students have attended college using their scholarship benefits. The Foundation is the 501(c)3 direct support organization for the Florida Prepaid College Board.