Coronavirus Impact: Open Enrollment For Florida Prepaid College Plan Extended Four Weeks
TALLAHASSEE (CBSMiami) - Families wanting to enroll in a Florida Prepaid College Plan but are uncertain of their financial situation due to the coronavirus pandemic now have more time.
The Florida Prepaid College Board has announced that they are extending the open enrollment window by four weeks to May 31st.
The extension comes on the heels of the recent deferment of payments for new and current customers until July 20th, another decision aimed at giving Florida families financial relief.
"During this challenging situation, we know that many families will need additional time to make their college savings decisions," said Board Chairman John D. Rood in a statement. "We hope that the Open Enrollment extension and deferred payments will give families the flexibility they need."
A prepaid plan allows families to lock in future college costs for less so their child's college tuition is ready and waiting for them. Families simply pick a prepaid plan to fit their budget and savings goals. There are no worries about the ups and downs of the stock market or how much tuition might go up.
In January, the Florida Prepaid College Board rolled back plan prices to their lowest price in 5 years.
Prepaid plan prices for 2020 Open Enrollment period start at $44 per month for a newborn.
The Board also announced that $500 million in refunds would be given to existing customers.
Over the last 30 years, Florida Prepaid has helped about 1.2 million families save for college and more than 518,000 students have attended college using a Prepaid Plan – making it the largest and longest-running program of its kind in the nation.
For more information about the Florida Prepaid College Plan, visit myfloridaprepaid.com.
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