Prepaid College Savings Plans Matter More Than Ever
NOTE: THIS IS A COMPENSATED PARTNERSHIP WITH FLORIDA PREPAID PLANS BUT AS ALWAYS, ALL OPINIONS ARE OUR OWN.
If the year 2020 and its ensuing Covid-19 Pandemic has taught families one thing- it would have to be – to be ready for the unexpected. Many young parents see their children in diapers and don’t automatically jump to having thoughts around high school graduation and the college years. But that transition comes so much faster than most young families stop to consider when they’re in the midst of daily survival from feedings to baths to toddler tantrums. And college planning while far from their mind- should be top of mind since it costs the least to start while your kids are young.
I have learned that the single most important decision our family made when our twins were just two was starting a college savings plan. Fast forward 16 years which seemed to go as fast as a ‘blink,’ our twins were graduating high school under unimaginable financial hard times and a national quarantine. We were worried more about how they could attend college since campus life shifted to an online digital format instead of how we were going to pay for it. Since 2004, we’re a Florida Prepaid familia and during the current fall open enrollment period that runs through October 31, your family can become one as well. It’s actually more affordable than ever in the plan’s history. Even the $50 application fee will be waived by using promo code DREAMBIG20 when you open your account. By saving a little each month early on, families can prepare financially for college in a way that is affordable and guaranteed.
Our family is a testament to how having a Florida Prepaid Plan allows families to lock in future college costs for less so that a child’s tuition is ready and waiting for them. There are so many plan options now versus when we started. Plans range from 1 – 4 years and can also be gifted by other family members.
Key points about the plans:
Florida Prepaid is celebrating National College Savings Month by waiving the $50 application fee when you enroll in a Florida Prepaid Plan.
- Florida Prepaid Plans are risk-free! You will never lose your investment, even if your child decides not to go to college.
- Florida Prepaid Plans can be used to pay for college in Florida, or the plan value can be applied to the cost of college outside of Florida.
- Join the 50,000 Florida residents who have enrolled in a Florida Prepaid Plan this year and explore our risk-free and flexible college savings plans. A key factor to consider once your children are nearing college age- you’ll also be closer to retirement age (I know, sorry to point this out!!). As I shared during an interview about our own savings plans available on the Florida PrePaid Website:
“You start getting closer to retirement. That’s a lot of money to spend now versus having saved it all along.”. “Thinking about having to put all that money when your kids are ready for college … it would be a lot. When you get to the stage where we are now having their college savings ready, you get to be really comfortable and enjoy the experience more.”