Is good idea to enroll my kids in Florida Prepaid College Plan?
I’m really confused about the Florida Prepaid College Plan. I have read some artical said is not a good idea to purchase prepaid college plan? In the long run, I’m losing money. If I decided to concell the plan, I would’t able to get back all the money. Please help me. I have just applied for my first kids.
Hi Kathy,
More information about the Florida Prepaid College Plans can be found by visiting http://www.myfloridaprepaid.com/ or by calling 800-552-GRAD(4723).
Visit http://www.myfloridaprepaid.com/cost-of-waiting.aspx to compare current plan prices vs. the estimated cost to attend college in the future (for a newborn today, estimates show a 4 year degree could cost more than $119,000). Also, the plans are guaranteed by the State of Florida. This means customers cannot lose their investments.
You may transfer the Florida Prepaid College Plan to another qualified family member or you may cancel the Plan and receive a refund. There is a cancellation fee of up to $50 if you have had your Prepaid Plan for less than two years.
I have several friends who went to college with the plan and are now buying plans for their children. It’s a great way to start saving for the future.