Disclosure: This post is sponsored by the Florida Prepaid College Board, through my role as a Believer Blogger. All thoughts and opinions are 100% my own.
Open enrollment for the Florida Prepaid College plans for 2015/2016 begins on October 15th, 2015!
It’s time to start thinking about the next generation’s future. Parents, grandparents, aunts, and uncles, get excited and get our children excited for their future. Help plan for that special child’s college education NOW. The earlier you start, the better. This week, the Florida Prepaid College Board approved 2015-16 Plan Prices!!
There is one huge promise that my husband and I made when we were ready to start a family. That promise is that we would work hard to be sure our children did not have to start their adult years in debt. We knew that we needed to start saving when they were babies. We also knew that education is extremely important and that we would not only save for their future, but we would push them to make education and grades a priority. College is not cheap. College for four children is definitely not cheap.
So, HOW do we start saving for our kids future?
I get this question a lot. I teach money saving classes throughout Central Florida. My friends, family, and blog readers know that I’m frugal. They also know I have a family of 6 and while I pinch pennies, I also save for the future. I’m often asked how to budget for the kids college funds. Especially with so many kids. I researched. I asked questions. I spoke with experts. I looked into Florida Prepaid. I had history with Florida Prepaid as my husband and his 3 siblings all had the plan. My husband’s college was paid for through his Bachelors. What a huge relief. Since he chose to go on and get his Masters, we only had to focus on paying for that. The first four years were covered. You may have noticed that last year they really dropped their rates by quite a bit. Well this year, Florida Prepaid College maintains affordable options for Florida Families!
How much will I spend?
This will depend on a variety of factors. There are quite a bit of options to choose from with Florida Prepaid. And, of course, if you have more than one child, you’re going to pay more each month. I’m happy to share that plans start as low as $46 per month!
Do I have options?
YES! There is something for every budget out there. The newest addition is the 1-Year Florida University Plan. This plan will allow your family to purchase up to four years at a state university in 1 year increments. This will help stay on budget. This plan starts at just $46 per month. This plan also allows multiple purchasers to buy a plan for the same child. You can team up with other members of your family to pay for your child’s education. For example, maybe grandma and grandpa want to purchase one year, and you can purchase a second year. This plan makes that possible.
Maybe you want to pay off all 4 years? This is also an option. Choose a 4 year college plan or a 4 year university plan.
Here are the details of the 4 year Florida University Plan. Keep in mind, this is just ONE of the options Florida Prepaid offers:
4-Year Florida University Plan
*This plan will start your child off at one of Florida’s 12 Prestigious State Universities and see them through their 4 year journey
*If your child decides to start at a smaller college (which is typically less expensive), those unnused funds will be applied to a post-secondary dgree or you can receive the remaining money back!
*Prepaid Plan can be used at schools nationwide.
What if my kids choose an out of state college?
My oldest daughter has her mind set on Julliard. So, this question makes sense. Florida Prepaid College plans are NOT restricted to Florida schools. Every cent can be used toward an out of state college as well.
What if my children receive scholarships?
This was my very first question. I encourage my children to apply for all scholarships that they possibly can. My daughter applied for her first one in 5th grade when she wrote an essay for a school project. If a child gets a scholarship like Bright Futures, for example, the amount covered by a plan, not just what was paid in, can be refunded, transferred to another family member or used to pay for tuition and fees not covered by the scholarship. This actually happened to my brother in law. He was able to give his remaining funds to his brother. There is no worries with the Florida Prepaid College Plan!
Florida Prepaid College Plans Open Enrollment Begins October 15, 2015
Where can I find more information?
The customer service members at Florida Prepaid go above and beyond to assist and answer all of your questions. Call them at 1-800-552-GRAD or you can visit them at Florida Prepaid College Plans online