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

Final chance to qualify for up to $500 in additional college savings

• 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., April 25, 2022 /PRNewswire/ -- 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.

"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," said Florida Prepaid Board Chairman John D. Rood.

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 choose from five prepaid tuition plans, as well as the optional prepaid dormitory plan, and make their payments, which are guaranteed to never go up. 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.   

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. 

SOURCE The Florida Prepaid College Board