Starting is Believing: Florida Prepaid College

This post is sponsored by the Florida Prepaid College Board, through my role as a Believer Blogger. All thoughts are my own. #StartingisBelieving

I was one of the lucky ones. I was lucky enough to earn a scholarship to Seminole State College of Florida (Seminole Community College at the time) which paid my tuition for 2 years at Seminole State and 2 years at the University of Central Florida. A rare opportunity for someone who didn’t have a college fund established. I wouldn’t have received finical aid, due to my parents being right on the sweet spot of them not having the money to pay for my college and making just enough not to make me eligible to be awarded finical aid. I truly was lucky enough to not make a dent in student loans until attempting my second masters program. This usually isn’t the case.

All young adults might not be as lucky when they try to enter higher education in the future. It might be time to jump-start your children’s future with Florida Prepaid option with 2015-16 Open Enrollment period starting on October 15, 2015.

You might be asking yourself, why would I want to start funding my child’s college now?

3 Simple reasons:

1. Setting aside up to $500 makes them 3x more likely to enroll in college.
2. Designating $500 toward college makes graduating 2.5x more likely.
3. Those with a bachelors’ degree earn about $24,000 more per year than those with a high school diplomas.

The most popular Florida Prepaid College Plans continue to remain affordable and close to last year’s historic low prices, after the Florida Prepaid College Board approved pricing for the 2015/16 Open Enrollment period. The prices for the 1-Year Florida University Plan, for example, start at less than $50 per month.

“Our mission has always been to empower and support Florida families by making college saving simpler and more affordable,” said Board Chairman Duane Ottenstroer. “The Prepaid Plan prices for the upcoming Open Enrollment period reflect our unwavering commitment to that mission.”

When Open Enrollment begins on Oct. 15, 2015, families will have the opportunity to purchase a 4-Year Florida University Plan for as low as $183 a month or a 2 + 2 Florida Plan for as low as $145 a month.

The Florida Prepaid College Board has five Prepaid Plans, each with specific costs, payment schedules and benefits which all include tuition and most fees at either one of 28 Florida Colleges or 12 State Universities. Though each option is designed to be used at a Florida College or State University, the amount covered by the plan can also be applied to other schools nationwide.

Florida Prepaid Plan Options include:

• 2-Year Florida College Plan, covers tuition & mandatory local fees for 60 lower division credit hours at the 28 Florida College (formerly Community College). This is great option for paying a clear path to get them to accomplish at least an Associate of Arts or Associate of Science degree. Associate of Science can be great opportunities for them to get quickly into the workforce with skills need in the community for high paying jobs. 
• 4-Year Florida College Plan, covers tuition & mandatory local fees for 60 lower division credit hours and 60 upper division credit hours at the 28 Florida College (formerly Community College).
• 2 + 2 Florida Plan, covers tuition & mandatory local fees for 60 lower division credit hours at the 28 Florida College (formerly Community College) and 60 upper division credit hours at one of Florida’s State Universities. This is one of my favorite plans, especially since I’m a huge advocate of the first 2 years being at a community college with smaller classes and many opportunities transfer right into a Florida University, such as the DirectConnect program at Valencia College that helps create a clear path into the University Central Florida. Plus tuition at a Florida College for the first two years can be a huge cost savings. 
• 1-Year Florida University Plan, covers tuition & mandatory local fees for 30 credit hours at one of Florida’s State Universities. This is the newest option and could allow other family members to contribute to help pay towards a college fund. Example: Grandma and Grandpa want to pay towards a year and you purchase another.
• 4-Year Florida University Plan, covers tuition & mandatory local fees for 120 credit hours at one of Florida’s State Universities.

Note: All of the plans are not just restricted to Florida schools; the amount covered by your Prepaid Plan can be used at schools nationwide.

Prepaid Plans will be available for purchase during Open Enrollment, Oct. 15, 2015 – Feb. 29, 2016. For more information, visit www.myfloridaprepaid.com.