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Florida Prepaid Offers State Employee Promotion to Encourage College Savings

For Immediate Release
January 24, 2017

  • The Florida Prepaid College Board is joining Florida’s Chief Financial Officer Jeff Atwater to offer state employees a 50 percent discount on their application fee, a $25 savings
  • The collaboration highlights the benefits of saving for college and reminds state employees of the many affordable college savings options offered by Florida Prepaid
  • Open Enrollment ends Feb. 28 and is the only time each year that families can purchase one of six Florida Prepaid plans

TALLAHASSEE, Fla. – As part of their shared mission of promoting financial health, the Florida Prepaid College Board and Florida’s Chief Financial Officer (CFO) Jeff Atwater have teamed up to encourage state employees to start saving for their children’s college education in 2017.

Through the initiative, employees of the State of Florida can save 50 percent off their Florida Prepaid College Plan application fee — a savings of $25. State employees will receive an email communication in January from the CFO’s office with promotional code activation instructions.

Employees can activate the promo code when buying a Prepaid Plan between now and February 28, 2017, when the 2016-17 Open Enrollment period ends. Open Enrollment is the only time each year that families can purchase one of six Florida Prepaid plans.

“Florida Prepaid is a benefit of living in the state of Florida, and a fantastic way to set up future generations for academic and financial success,” said CFO Atwater. “I encourage all state employees to research the available options and take advantage of the savings offered.”

The Florida Prepaid College Board is the largest and longest-running prepaid tuition program in the nation. The program allows families to prepay the future cost of college tuition, specified fees and dormitory housing, with 1-Year Florida University plans starting at $47 / month for a newborn.

If the child attends an out-of-state college or private college, the Plan will pay the same amount as it would pay at a public college or university in Florida. Every Prepaid Plan is guaranteed by the State of Florida.

More than two-thirds of Florida’s jobs will require education beyond high school by 2025, according to state projections. And research shows that children with dedicated college savings are two and a half times more likely to graduate from college. Florida Prepaid offers an affordable way for families to save for college and help ensure that the students of today are prepared for the jobs of tomorrow.

“This initiative reflects our commitment to helping Florida families save for college” said Board Chairman John Rood. “The end of Open Enrollment is quickly approaching, and we urge families to start saving as early as possible.”

Florida Prepaid Plans are available for purchase through February 28. For more information, visit www.myfloridaprepaid.com.

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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.