7 Side-Splitting Kid Quotes to Make Your Day
June 30, 2016 – 9:41 AM | No Comment

Ever heard the old adage “kids say the darndest things?” There’s a reason for that, and chances are good that your kids have come up with some doozies of their own a time or two. …

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College Savings for your child, Florida Pre-Paid College Plans!

Submitted by on March 31, 2010 – 6:00 AMNo Comment
College Savings for your child, Florida Pre-Paid College Plans!

This is the last blog encompassing College Savings Programs with the focus being Florida Prepaid College Plans.  Over the last three weeks I have reviewed U Promise as well as Gerber Life Smart Start (please see my blogs College Savings for your child, You Promise and College Savings for your child, Gerber Life Smart Start.)  Both are awesome in their own ways but here are the ins and outs of the Florida Prepaid College Plans

Start your Florida Prepaid College Plans by registering online or by requesting an enrollment packet via mail.  It takes 6-8 weeks to process upon receipt.  Open enrollment is available mid October through January 31.

There are three different options you can choose from.  The Four Year University Tuition Plan, The 2+2 Tuition Plan, or The Two Year Community College Tuition Plan.  Your payments will be based on the plan and the payment option you choose.  Any Florida resident 21 or under and in the eleventh grade or below is eligible for the program.

You can choose from three payment options available, pay in one lump sum, a five year payment plan, or monthly payments.  All payments regardless of which option you choose are due in April 2011.  Your money is allocated into different investments by the Board of Directors which is made up of seven individuals including the Chief Financial Officer of Florida, the Attorney General of Florida, the Chancellor of the Board of Governors of the State University System of Florida, the Chancellor of the Division of Florida Colleges of the Florida Department of Education, or their designees, and three members appointed by the Governor and subject to confirmation by the Florida Senate.  If for any reason the plan should be repealed, you are guaranteed all of your monies in full as well as the 3.88% interest (which can fluctuate depending on when you enroll.)  If the beneficiary is less than 5 years away from college, their contracts will be honored 100%.

The beneficiary is to utilize the program within 10 years of graduation.  This time line can be extended if need be.  Also, the account owner can receive a full pay out for a fee of $50.  All of Florida’s 11 state universities and 28 community colleges (including the nine colleges granting baccalaureate degrees) are participating in the Florida Prepaid College Plan.

In summary, this is an impressive, no risk program.  The earlier you sign up, the less pain your pocket book will feelJ

If you’ve got questions, I’ve got answers…  Send them to lori@sunshinemamas.com.


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