Deadline nears for prepaid school plans

Deadline coming: Prepaid college enrollment ends Feb. 28.

Open enrollment with the Florida Prepaid College Board began Oct. 15. The enrollment period is the only time each year that families can purchase one of five prepaid tuition plans and prepaid dormitory plans.

This year, families can purchase a four-year Florida University Plan for a newborn for $187 a month, a 2 + 2 Florida Plan for under $148 a month or a four-year Florida College Plan for less than $117 a month.

A two-year Florida College Plan is available for a newborn for less than $55 a month. This plan offers a child the opportunity to earn an associate’s degree or trade certification in any number of fields and can be a springboard to a fulfilling career or further education. A student who has earned an associate’s degree from a Florida College is guaranteed admission to a state university in Florida.

The board also offers a one-year Florida University Plan that starts at $47 per month and covers 30 university credit hours. Multiple family members can purchase a one-year Florida University Plan for the same beneficiary, effectively sharing the cost of going to college.

If a child attends an out-of-state college or private college, a Florida prepaid plan will pay the same amount as it would pay at a public college or university in Florida. Prepaid plans can be used up to 10 years after high school graduation.

For more information, visit www.myfloridaprepaid.com.

This story was originally published February 18, 2017 at 9:06 AM with the headline "Deadline nears for prepaid school plans."