This post is sponsored by the Florida Prepaid College Board, through my role as a Believer Blogger. All thoughts are my own.
Because our yard is large and has a huge tree-free area, our neighbor uses it every year to stage a pyrotechnics extravaganza (he has a professional license, so it truly is something beyond “sparklers and fireworks picked up at a state border somewhere”).
It takes Bill a long time to set up for the show: getting the license and insurance, spending a day in our yard arranging the various components of the production, etc.
Then, as the new year begins, light, sound and awe fills the air ….. for about 15 minutes.
Another way to spend 15 minutes that involves less explosions and lasts longer is signing your child up for a Florida Prepaid plan. You can even save $25 off the $50 application fee with my special code.
Ignite a Debt-Free Future
Let this sink in for a second: The rate of student loan debt among Americans exceeds $1 trillion. ONE TRILLION DOLLARS. According to the Institute for College Access and Success as cited in Forbes, Florida is among the top 10 states for average student loan debt (with an average of $23,379 per student).
I wish I could tell you that my college senior (yay!) and freshman will be graduating debt-free thanks to their Florida Prepaid contracts. I haven’t managed things that well.
However, they will have less debt than they would have if my parents had not purchased prepaid contracts for them when they were newborns. Best of all, you can avoid the same mistakes our family made by securing your child’s debt-free college education before open enrollment closes next month.
Florida Prepaid Options
Every year, the Florida Prepaid program gets more flexible and adds options that suit almost every family. In my last Florida Prepaid post, I focused on the 1-year Florida University plan.
Other options include:
- 2-Year Florida College Plan
- 4-Year Florida College Plan
- 2+2 Florida College Plan
- 4-Year Florida University Plan
You can read more about each plan here. (There’s also a dormitory plan.)
But The Start of the Year is So Busy
I know it’s a busy time of year. It’s January 7 and our tree is still up. We have pretty much dropped everything to deal with supporting my mom, who has been hospitalized 2.5 hours away since December 11. We are supposed to have had our house ready to put up for sale three weeks ago. And, especially relevant to the audience reading this, I haven’t done my children’s FASFAs yet.
It’s not overwhelming to apply for Florida Prepaid, though — I promise. In the time our neighbor entertained the whole neighborhood with his incredible show, you can diminish the chance your child will leave college in debt. As a parent who has to explain the prospect of ten years’ of student loan payments to my college senior, I assure you that you don’t want to have to do that.
It’s easy to apply. Like I said, about 10-15 minutes between now and February 28. With my code (GREEN1718). you can save 50% off the $50 application fee.
If you invest in your child (or children) by applying for a Florida Prepaid account, you deserve a treat! Take a chance at winning a $10 Starbucks treat just by learning more and spreading the word. Editor’s Note: The giveaway has ended (congrats Michelle!). Thank you to everyone who entered and helped share the Prepaid message. ~ pk 1/12/18
Apply soon (but definitely by February 28). It’ll be a dazzling start to the habit of investing in your child’s education and success!
Wife of one, Mom of two, Friend of many. My pronouns are she/her/hers.
Christi Wildman says
all of my grandchildren are in Ohio…I live in florida…this could be a devious way to set them up for college in florida! LOL. but seriously…I’d love to do this!
Paula Kiger (@biggreenpen) says
Far be it from me to interrupt a grandparent’s attempt to get her grandchildren closer!! Kids to have to be FL residents to be the recipients of a FL prepaid plan. However, many states have similar plans. I can’t say I’m an expert in Ohio options, but apparently they don’t currently have a prepaid plan open but they do have a 529 plan, if that’s of any help: https://www.collegeadvantage.com
monique s says
In the FAQs the 529 plan comparison to other saving plans was most relevant to me
Paula Kiger says
I find that helpful too. Thanks for visiting!
jjohnson46 says
The question of “What is the difference between a Prepaid Plan and a Savings Plan?” is the most relevant to us now. It will help lead us in the right direction to start plans for our son.
Paula Kiger says
Right. There are pros and cons to each, and that info helps sort things out. 🙂