TALLAHASSEE, Fla., Dec. 9, 2010 /PRNewswire/ -- The season of saving with Florida Prepaid College Plans is the best time to give the gift of a college education to children or grandchildren, and the Florida Prepaid College Board encourages families to make it a resolution to invest in higher education before the holiday time of year comes to an end.
With the rise in higher education costs and the approaching close of the Florida Prepaid College Plan enrollment period, this holiday season is the perfect chance to spend on a gift that children cannot outgrow: the gift of education. Families have until January 31, 2011 to enroll this season and purchase the peace of mind that comes with safeguarding a loved one's future.
According to the Wall Street Journal, the annual spike in spending around the holidays is about $65 billion nationwide, or roughly $600 per household. If a family saves that $600 every year instead of spending it on gifts, it would add up to significant college savings. Wall Street Journal analysts and many top financial planners suggest opening a 529-college savings plan for each of your children.
"It's smart to direct some holiday dollars to what children will need for their future, a college education," says Tom Wallace, Florida Prepaid College Board executive director. "Starting to save for college or enhancing existing college savings for your children and grandchildren may be the most meaningful gift you give this holiday season."
The Florida Prepaid College Board offers two 529 plan options for family and friends to give their loved ones something they'll never outgrow – a Florida Prepaid College Plan or a Florida College Investment Plan is the ideal gift for the holidays and any special occasion.
The Stanley G. Tate Florida Prepaid College Program allows families to prepay tuition and most required fees in advance for Florida's 11 state universities and 28 Florida Colleges (formerly known as community colleges). The Florida College Investment Plan offers a range of investment options and flexibility that can be used to cover any qualified higher education expenses such as fees, books, off-campus housing as well as tuition and fees. Once a child is enrolled in a Florida College Investment Plan, friends and family are able to easily add to help pay for a multitude of college expenses, and can even use gift certificates downloadable online.
Families can enroll in a Prepaid Plan and download a Florida College Investment Plan gift certificate online at www.myfloridaprepaid.com, or call 1-800-552-GRAD (4723) to order an Enrollment Kit in English or Spanish.
Florida Prepaid College Plans offers two different plans. The Florida Prepaid College Plan is a prepaid plan guaranteed by the State of Florida; see s. 1009.98(7), Fla.Stat. Florida's state universities and state colleges impose fees not covered by the Prepaid Plan. The Florida College Investment Plan is a college savings plan and is not guaranteed. Returns will fluctuate; you could lose all or part of your funds. Read the Investment Plan Disclosure Statement before investing. This ad does not offer financial or other advice; consult your own advisors.
SOURCE Florida Prepaid College Plans