Press Release: Florida Prepaid College Foundation Bolsters College Savings for 10 Florida Students

529 Day Sweepstakes winners receive $529 scholarship deposited into a Florida 529 Savings Plan accountBLOG POST FEATURED IMAGE PIGGY

Tallahassee, FL – The Florida Prepaid College Foundation today announced the 10 winners of its 529 Day Sweepstakes, held as part of the Florida Prepaid College Board’s celebration of National 529 College Savings Day. The 10 randomly chosen winners have received a $529 Scholarship, deposited into their Florida 529 Savings Plan accounts. The winners are:

  • Kelly Davidson of St. Petersburg, parent of beneficiary Quinn, age 5
  • Jennifer Eggland of Orlando, parent of beneficiary Daniel, age 13
  • Tamara Farach of Ormond Beach, parent of beneficiary Isabel, age 10
  • Gay Geiger of Orlando, parent of beneficiary Hillary, age 21
  • Angela Gimenez of Miami, parent of beneficiary Miguel, age 10
  • Pamela Johnson of Sunrise, parent of beneficiary Carter, age 7
  • Anthony Pascucci of Coconut Creek, parent to beneficiary Jackson, age 2
  • Samir Shah of Aventura, parent of beneficiary Emily, age 2
  • Jessica Turner of Plantation, parent of beneficiary Julia, age 14
  • Rannie Wiggins of Pensacola, grandparent of beneficiary Hayden, age 10

“This scholarship contribution is an opportunity for the Foundation to support the education of these students in a very meaningful way,” said Foundation Chairman Duane Ottenstroer. “The research tells us that students with at least $500 saved for college are three times more likely to enroll in college, so we see this scholarship as a way to help set them on a path for success.”

“To be the recipient of this scholarship was such an unexpected surprise. I was elated,” said parent winner Kelly Davidson. “It was one weight off my shoulders as a parent, that someone else was giving me a jump start on providing a stellar educational experience for my child. We are eternally grateful for the Florida Prepaid 529 scholarship award to start our account and move forward with investing in our child’s college education.”

A study last year by the Center for Social Development found children with as little as $1 to $499 designated for college are three times more likely to enroll in college and 3.5 times more likely to graduate from college than children with no savings account. The same study also showed that having a savings account dedicated to college savings was a better predictor of whether a child would attend college than race or parents’ net worth.

The Florida 529 Savings Plan is a flexible, tax-advantaged college savings tool available to families nationwide. The 529 Savings Plan allows for personalized contribution and payment timelines to fit any budget or savings goal. Funds in a 529 Savings Plan can be used for any qualified higher educational expense, including tuition, room & board, textbooks, graduate school and much more. There are 11 investment options to choose from ensuring families can find the best option or combination of options for them.

The 529 Day Sweepstakes coincided with National 529 College Savings Day (529 Day), celebrated nationally on May 29th each year. Promoted by the College Savings Plan Network with participation from nearly all 50 states, 529 Day raises awareness about state 529 savings plans and the importance of saving for college. During the eight-week awareness campaign in Florida, more than 1,000 new 529 Savings Plans were opened, bringing the total for the fiscal year to more than 5,000 new accounts. This represents a 45 percent increase over last year, 10 times more than the national average of 4.4 percent.

The Foundation encourages families to learn more about 529 Savings plans and other savings options at http://www.myfloridaprepaid.com/what-we-offer/529-savings-plan/.

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About the Florida Prepaid College Foundation
The Florida Prepaid College Foundation is the 501(c)(3) direct support organization for the Florida Prepaid College Board. The Foundation was created in 1990 as a public/private partnership. Businesses, organizations and community groups may purchase contracts through the Foundation, allowing scholarship recipients to benefit from the advantages and guarantee offered by Florida Prepaid College Plans. Visit www.floridaprepaidcollegefoundation.com for more information.