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Florida Prepaid Urges Families to Complete Enrollment in Inflation-Proof College Plans by April 30

  • Join the more than 22,000 families who have purchased Prepaid Plans so far this year, locking in the future cost of college and earning up to $500 in additional college savings.
  • With a Prepaid Plan, families are protected from future tuition increases.
  • Prepaid Plan prices start at $45/month for a newborn.

TALLAHASSEE, Fla. – As families across the state deal with rising prices on essentials like food and fuel, the Florida Prepaid College Board is urging families to lock in the future cost of college with a Florida 529 Prepaid Plan. As incentive, families that enroll in a Prepaid Plan prior to April 30, 2022, will earn a bonus of up to $500 in a Florida 529 Savings Plan that can be used toward additional college expenses.

Open Enrollment runs through April 30 and is the only annual window when families can lock in future tuition costs at today’s Plan prices. Plans start at $45/month. For each year of college or university Prepaid Plan purchased this Open Enrollment, Florida Prepaid will put $125 into a Florida 529 Savings Plan, up to $500.

“We know Florida families are being impacted by inflation each day on their grocery bills and in their gas tanks, so we want to remind them of the risk-free, inflation-proof nature of our Prepaid Plans,” said Florida Prepaid Board Chairman John D. Rood. “Prepaid Plans offer security and affordability at a time when families want and need to know they can depend on something in their budgets remaining stable.”

During this Open Enrollment period, more than 22,000 families have enrolled in a guaranteed and affordable Florida 529 Prepaid Plan. Florida families can choose from five prepaid tuition plans, as well as the optional prepaid dormitory plan, to find the options that best fit their budget and savings goals.

Florida 529 Prepaid Plans allow families a simple, stress-free, risk-free way to lock in future college costs for less so their child’s college tuition is ready and waiting for them. Families simply pick a Prepaid Plan and make their payments, which are guaranteed to never go up, then Florida Prepaid manages the rest.

All Prepaid Plans are guaranteed by the State of Florida so families will never lose their investment, and a child has up to 10 years after high school graduation to use the plan. If a child attends an out-of-state or private college, Florida Prepaid will pay the same amount as it would pay at a public college or university in Florida.

This year, families can purchase a 4-Year Florida University Plan for a newborn for as low as $181 a month or a 2-Year Florida College Plan for just $54 a month.

In addition to other Plan options, the Board offers a 1-Year Florida University Plan which starts as low as $45 per month and covers 30 university credit hours. Multiple family members can purchase a 1-Year Florida University Plan for the same child, sharing in the cost of saving for college.

“Enrolling in one or two years of the 1-Year Florida University Plan is a great way for familes that already have a 529 savings and investment plan to round out their savings strategy and reduce inflationary risk in their college savings portfolio,” said Kevin Thompson, Florida Prepaid Executive Director.

Open Enrollment ends April 30. Families can use the online Prepaid Plan pricing tool to determine what the various plans cost based on a child’s age, as well as explore the different payment options available and learn more about the $500 incentive.