If you’re looking for an affordable way to lock in college costs for your kids or grandkids, without ever having to worry about the ups and downs of the market, take a good look at the Florida Prepaid College Plan.
It’s open for new enrollment with prices guaranteed through April 30.
Plan sponsors advertise the Florida 529 Prepaid Plan as the “tax-free, risk-free and worry-free way to save for college.”
It’s a fact that all Prepaid Plans are guaranteed by the State of Florida, so you can never lose your investment.
Prepaid benefits can be used at in-state, out-of-state, public or private schools around the country and across the globe. Your child will qualify for in-state tuition rates even if you move out-of-state before college starts. Benefits are locked in regardless of what tuition prices or the market does.
New plans start for as little as $45 a month. You can check out the online Prepaid Plan pricing calculator to research different plans and pricing options, or click here to read more about all the benefits of a Prepaid Plan.
Financial Planning Tip: The Florida Prepaid is a great way for Florida residents to start saving for college. If you have the means to save more, you can layer a 529 college savings plan on top of the Prepaid Plan for additional benefits. Visit the Florida Prepaid site to learn more about the differences between the Prepaid Plan and a College Savings Plan, or ask us which might be the best fit for you. One important distinction: while the Florida Prepaid is guaranteed by the State of Florida, the Florida College Savings Plan – and other similar 529 savings plans – are not, so talk to your financial advisor before you invest.