Disclosure: This post is sponsored by the Florida Prepaid College Board, through my role as a Believer Blogger. All thoughts are my own.
Photo Credit: Sarah Stephens Photography
At 18 months, my daughter Tenley had the security of a favorite stuffed animal. At 17 years, she was poised to enroll as a freshman at Valdosta State University, with her tuition already taken care of through the Florida Prepaid College Plan.
My parents bought the Florida Prepaid College Plan for Tenley with a lump sum payment of around $7,000 when she was an infant. That investment will result in approximately $32,000 worth of college education. The ultimate security.
A Grandparent’s Gift
When I asked him about his choice to purchase Florida Prepaid College Plans for my children when they were infants, my dad said, “I am not a financial genius; however, I was fortunate enough to have the money to invest in our grandchildren’s future.”
Maybe it isn’t genius level to make such a stellar and long-lasting investment, but it is certainly smart if you ask me!
More About Florida Prepaid
The Florida Prepaid College Plan kicked off Open Enrollment on October 15. The Open Enrollment period closes on February 28, 2015. There are two incredible new changes this year:
- Prices are at their lowest point since 2007 (as much as 50% lower)!
- There is a NEW 1-Year Florida University Plan with a monthly payment of $43.30 for newborns.
In addition, the $50 application fee for newly opened plans will be waived through December 31, 2014!
Although my parents chose the lump sum option and started when Tenley and Wayne were infants, there are a variety of payment plans for children of all ages. (And payments don’t begin until April 2015.)
For more information, visit the Florida Prepaid College Plan by clicking here. If you prefer to speak with someone by phone, please call 800-552-GRAD (4723).
I am a Blogger Believer because a Florida Prepaid College Plan has been one of the primary factors in securing my children’s future.
What are your dreams for your child’s future?
Wife of one, Mom of two, Friend of many. My pronouns are she/her/hers.
What a great idea!! I love that your parents did that for your children. Thanks for letting me know about this interesting product!
You’re welcome, Kathy! I appreciate your comment. Many states have similar programs.
Very generous of your parents and it really shows how an initial lump sum can grow over 18 years and benefit so much. Your kids are lucky to have such bright grandparents!
A friend of mine’s in-laws were able to give $10,000.00/year per child invested with the stipulation that if they chose the money there would be no birthday, Christmas or any other gifts. They thought those gifts were the responsibility of the parents. My friend chose the money and her 2 boys went through graduate school with-out a loan and both still had money left over that they got when they turned 25.
THAT is a brilliant idea, I think! Definitely the gift that keeps on giving (to use a cliche’!).
What an awesome and practical gift from her grandparents!
I agree, Rachel! Thanks for your comment!