Florida Prepaid college payments deferred until July

New participants won't have to make first payment until July 20
Posted at 3:33 PM, Apr 06, 2020
and last updated 2020-04-06 15:47:02-04

TALLAHASSEE, Fla. — Parents struggling to pay their bills amid the coronavirus pandemic will get some relief when it comes to their children's college education.

The Florida Prepaid College Board announced Monday that all payments will be deferred until July.

That means all those who are currently participating in Florida Prepaid won't have to make any payments in April, May and June.

Payment schedules will be extended by three months when billing resumes, although families can continue to make payments as previously scheduled if they choose to do so.

All those making payments via online banking or payroll deduction will need to contact their financial provider to pause payments.

Any new participants won't have to make their first payment until July 20 and their $50 application fee will be waived.

In January, the state announced it was reducing Florida Prepaid prices by $1.3 billion.