January 31 is Deadline to Save for College at Current Florida Prepaid Prices

TALLAHASSEE, Fla., Jan. 18, 2011 /PRNewswire/ -- Families have less than two weeks left to purchase a Florida Prepaid College Plan* at current plan prices. Enrolling children by the Jan. 31 deadline is easy to do online at www.myfloridaprepaid.com.

According to a recent article in USA Today, college graduates have been insulated from the worst effects of the recession, which resulted in 10 percent unemployment for high school graduates and 15.7 percent unemployment for those without a high school diploma. These high unemployment rates illustrate the importance of earning a four-year degree; persons with at least a bachelor's degree experienced only 5.1 percent unemployment.

"The earlier families begin saving for college, the better," says Chairman Duane Ottenstroer of the Florida Prepaid College Board. "This year, we evolved to make plans more comprehensive and expanded our consumer-friendly savings choices with the introduction of a new plan option- the 4-Year Florida College Plan - to allow a student to obtain a bachelor's degree in many workforce related areas such as teaching, nursing and business management at one of Florida's 28 Colleges."

A prepaid college savings plan can be purchased for children and grandchildren as soon as they are born and up until the 11th grade. Four flexible plan options are available through the Florida Prepaid College Board to lock in tuition and most fees at Florida's 11 state universities and 28 colleges (formerly known as community colleges).

For the first time, this open enrollment period, families also have the option to purchase the new 4-Year Florida College Plan, which prepays the cost of earning a bachelor's degree from a Florida College offering workforce-related four-year degree programs.

When children are ready for college, the plan's full dollar value, what would be paid to a Florida higher education institution, can be transferred to most private and out-of-state colleges. Only a $50 application fee is due by the January 31 deadline. The first plan payment is not due until April 20, 2011. Families can visit www.myfloridaprepaid.com or call 1-800-552-GRAD (4723) to order an Enrollment Kit in English or Spanish and speak to a customer service representative.

About The Florida Prepaid College Plans:

The Florida Prepaid College Board, which operates and oversees the Florida Prepaid College Plans, is a State of Florida agency. The Florida Prepaid College Board is committed to helping Floridians save for future qualified higher education expenses by providing a cost effective, financially sound Prepaid College Plan and other college savings programs. The Florida Prepaid College Plan is the largest and most successful prepaid college plan in the nation. One out of 10 Florida children from newborns to high school students has a Florida Prepaid College Plan. Families are offered two ways to save for their children and grandchildren's college education: the Florida Prepaid College Plan and the Florida College Investment Plan, both are 529 plans, so earnings on withdrawals which are used for qualified college expenses are tax-free. Created by the 1987 Legislature, the Florida Prepaid College Plan was first sold in 1988. It was designated as "The Stanley G. Tate Florida Prepaid College Program" in 2006 to honor its founding chairman.  No taxpayer money is used to operate the Florida Prepaid College Plans.

For more information, please visit www.myfloridaprepaid.com or call 1-800-552-GRAD (4723).

*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 Plan