Answering all of your most asked questions like “Is a Florida Prepaid College Plan Worth It” & other FAQ + $50 Promo Code! This post is sponsored by Florida Prepaid College Plans. All opinions are my own.
Is a Florida Prepaid College Plan Worth It? FAQ + $30 Promo Code
What it feels like making a HUGE financial decision for your family…
Overwhelmed. Info overloaded. And nervous about taking that next step, like your head is getting crushed by a dinosaur.
Ok, maybe not quite like that. But close. I remember these feelings all too well before signing up my son for a Florida Prepaid College Plan. It’s a lot of money, a lot of pressure and a lot of uncertainty about the future. But if you have any or all of these feelings – it’s because we LOVE our kids so much. We want the best possible future for our kids. We want our investment to be protected. We want their dreams to be bright.
You’ve got Florida Prepaid College Plan questions? I’ve got answers! I’m going over the most “googled” questions when it comes to investing in your child’s college education. Because I’ve been right where you are. “Is a Florida Prepaid College Plan worth it?” I’m answering all of those burning questions you have before taking the leap (like us!) and sharing an exclusive $50 Florida Prepaid promo code.
Looking for more info on Florida 529 Savings Plans? Read Is A Florida 529 Savings Plan Is Worth It?
Who can get a Florida Prepaid College Plan?
One of the surprising facts about a Florida Prepaid College Plan is that you do NOT need to be a Florida resident in order to be a plan holder. You do need to be:
- at least 18 years old+
- a U.S. citizen or legal U.S. resident with a valid Social Security number
That’s it! But do keep in mind the the child (aka the beneficiary) does need to be a Florida resident to qualify for a Florida Prepaid College Plan.
What does a Florida Prepaid College Plan cover?
A Florida Prepaid College Plan allows families to lock in college plan prices and prepay, on a monthly or lump-sum basis, the future cost of college tuition, tuition differential fee, local fees and, optionally, dormitory housing. When your student is ready for college, the Plan pays the costs covered under your plan type at any Florida College or State University, even if the cost of college is higher than anticipated when your plan prices were set.
What’s great about the Florida Prepaid Plan College program is that there are so many different plan options – so you can choose the one that is right for your family. Florida Prepaid plans start as low as $47 a month:
- 4-Year Florida University Plan – covers 120 credit hours at any of the Florida 12 State Universities
- 1-Year Florida University Plan – a flexible plan offer! Different family members can each purchase a year, adding up to 4 years for your child!
- 2 + 2 Florida Plan – covers 60 credit hours at a Florida College & 60 at a Florida State University
- 4-Year Florida College Plan – covers 120 credit hours at any Florida College
- 2-Year Florida College Plan – covers your child’s AA degree + guarantees admission to a Florida University
Florida Prepaid also offers an optional University Dormitory Plan and 529 Savings Plan for families as well. We personally have bought the 4-Year Florida University Plan for both kids – and have already paid one 100% full!
What if we move?
No worries! Your prepaid plan travels with you. And if your child decides to go to college back in Florida, the plan still qualifies them for the same low rate in-state tuition that was determined when the plan was bought.
What if my kid goes to college out of state?
While Florida Prepaid College Plans are designed to be used at a Florida college/university (hence the name), the prepaid plan value can be used at most schools nationwide. You don’t have to worry about losing your investment because your child wants to go to college out of state.
What if my child gets a scholarship? Or doesn’t go to college?
That’s ok! The plan can still be used in conjunction with their scholarship to cover other college costs such as housing, school supplies, even grad school costs. If that doesn’t work with your family’s plans, you can also get a refund for the amount you paid or transfer the plan to another family member. So many options!
Is a Florida Prepaid College Plan a risky investment?
NO! This is one of the best worry-free investments I’ve ever made. Guaranteed by the State of Florida and managed by Florida Prepaid – your child’s college education cost is LOCKED IN at a low rate at the time that you sign up. You will NEVER lose your investment or pay more than your initial plan, even with potential stock market fluctuations or rising college costs.
Are there payment options?
You’re a financial planner like me. I get it! Family budgeting is a huge part of our lives, so knowing what the costs are up front really helps for planning in the long run. What’s great is that Florida Prepaid offers so many options for payment, always at the same rate (so there are no surprises). You can pay by:
- Online at MyFloridaPrepaid.com. There are one-time and recurring options.
- By mail – you can mail a personal check straight to Florida Prepaid
- Automatic payroll reduction at participating employers
- By phone at 1-800-552-GRAD (4723)
- Via family & friends – they can mail in a check or gift certificate form to Florida Prepaid
There are also options to pay more than your monthly rate AND down payment options too, which will help pay off your plan sooner!
Is there a deadline to use your Florida Prepaid Plan?
Yes, it’s 10 years from your child’s projected graduation date. This gives your family plenty of time in case of any life changing events.
What if I miss Open Enrollment? Can I sign up later?
Absolutely. While I highly recommend signing up during the Open Enrollment period (to lock in this year’s plan rates and use the savings code below), you can enroll at any time. But take note that signing up outside of the open enrollment period may result in a higher plan price. Thankfully for the 2019 Open Enrollment period, prices did NOT increase from last year. Even more incentive to sign up now!
$30 Off Open Enrollment | Florida Prepaid 2019 Promo Code
Missed your chance to redeem $50 off open enrollment? There’s still time for big savings! Use Florida Prepaid 2019 Promo Code RAISFPP at checkout to get $50 for your application fee. This is one of the highest exclusive coupon codes Florida Prepaid has ever offered but you can only save $50 now through March 2, 2019! So if you’ve been waiting for the right time to save for your child’s future, this is it. Grab your savings and lock in your low fixed rate before college prices go up!
Is a Florida Prepaid College Plan worth the cost?
So is a Florida Prepaid College Plan worth it? 1000% yes. For our family, it’s the peace of mind that we need in an ever changing world. No price fluctuations. No worrying about budgeting for college educations. No uncertain futures. Hurry and use Florida Prepaid 2019 Promo Code RAISFPP to save $50 off Open Enrollment, now through April 30, 2018. Learn more important FAQ’s and apply for your prepaid college plan at MyFloridaPrepaid.com. Be sure to follow Florida Prepaid via Facebook.com/FloridaPrepaid, Twitter at @FloridaPrepaid and Instagram at @myfloridaprepaid for the latest updates.
Is a Florida Prepaid College Plan worth it to you?
Want answers to your Florida Prepaid questions? Check out these posts:
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