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Florida Prepaid College Plans

January 22nd, 2010 by flanews

Time is running out for parents who want to lock in today�s 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 she�s gambling with her career, she�s not taking any risks on her son�s 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, there�s 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, that�s 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 there�s been significant price jumps it does get a lot of people off the fence who may have been putting it. It wasn�t 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 she�s 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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