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Florida Prepaid College Plans

January 22nd, 2010 by flanews

Time is running out for parents who want to lock in todays college tuition rates. The deadline to enroll in a Florida Prepaid College Plan is a week from Sunday, January 31st. As Whitney Ray tells us, plan prices have skyrocketed, still, more people are buying in this year than last.

Allie Fleming just opened a gym. While shes gambling with her career, shes not taking any risks on her sons future. She bought a Florida Prepaid College Plan.

It is the responsible thing to do, with the raids on the education funding, with the changes with the Bright Futures Scholarships, theres no telling what college is going to be like in 18 years when he goes, said Allie.

The price of a prepaid plan has almost doubled since Allie bought in two years ago, thats because the legislature gave state universities the authority to raise tuition up to 15 percent a year. The rising cost has led to a three percent spike in prepaid enrollment.

When theres been significant price jumps it does get a lot of people off the fence who may have been putting it. It wasnt their priority, but now people are really focusing on this as part of their savings plans, said Susan James a spokeswoman with Florida Prepaid College Board

Candy Strand did the math and decided to buy a plan for her granddaughter Sophia.

What college would cost when shes old enough to go to college was enough to scare the pants off of me, said Strand.

Families who bought into a plan 18 years ago will save an average of 8-thousand dollars by the time their kid graduates. There are several different plans available with a variety of payment options. For more information on go to www.myfloridaprepaid.com.

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