Florida Pre­paid low­er­ing cost of col­lege plans

Orlando Sentinel - - LOCAL & STATE - By Annie Martin

The Florida Pre­paid Col­lege Board has low­ered plan prices by $1.3 bil­lion, ben­e­fit­ing 224,000 fam­i­lies and re­sult­ing in re­funds of more than $500 mil­lion.

The price re­duc­tions ap­ply to plans pur­chased since 2008, ac­cord­ing to a press re­lease from the Florida Pre­paid Col­lege Board, which said Mon­day it was low­er­ing plan prices.

The plans now start at $44 per month for a new­born, the low­est cost in five years, ac­cord­ing to the re­lease.

“Our goal has al­ways been to em­power and sup­port Florida fam­i­lies by mak­ing col­lege sav­ings sim­ple and af­ford­able,” said John D. Rood, chair­man of the Florida Pre­paid Col­lege Board. “The price re­duc­tion re­flects our un­wa­ver­ing com­mit­ment to that ob­jec­tive.”

Gov. Ron DeSan­tis made the an­nounce­ment Mon­day at Florida State Col­lege in Jack­sonville. DeSan­tis said in the re­lease the price re­duc­tion is aligned with his ad­min­is­tra­tion’s goal of mak­ing post­sec­ondary ed­u­ca­tion af­ford­able for fam­i­lies.

“My ad­min­is­tra­tion has been com­mit­ted to hold­ing the line on the in­creas­ing cost of higher ed­u­ca­tion, and as a re­sult, we are start­ing to see tu­ition rates level out,” DeSan­tis said, ac­cord­ing to the re­lease.

The Florida Pre­paid board will no­tify fam­i­lies who are al­ready en­rolled in plans in Jan­uary if they can ex­pect to re­ceive re­funds or pay­ment re­duc­tions.

Open en­roll­ment in Florida Pre­paid

plans runs from Feb. 1 through April 30. Fam­i­lies can en­roll in these plans for free, a $50 sav­ings, by us­ing promo code EARLY50 through Feb. 29.

Florida Pre­paid al­lows fam­i­lies to lock in col­lege prices by pre­pay­ing for tu­ition, fees and hous­ing costs on a monthly or lump-sum ba­sis. When their chil­dren are ready for col­lege, the plan pays the costs cov­ered at any Florida state col­lege or state uni­ver­sity.

If the child at­tends an out-of­s­tate col­lege or pri­vate col­lege, the plan will pay the same amount as it would pay at a pub­lic col­lege or uni­ver­sity in Florida. Stu­dents have un­til 10 years af­ter high school grad­u­a­tion to use their plans.

JOE BUR­BANK/OR­LANDO SEN­TINEL

The cost of Florida’s pre­paid col­lege plans will go down by $1.3 bil­lion.

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