WEST PALM BEACH, Fla. — Open enrollment for the Florida Prepaid College Tuition Plan ends Tuesday.
The 35th anniversary of the savings plan began Feb. 1 with prices the lowest in 10 years.
This year's program includes up to a 25% reduction, primarily due to successive years of lower-than-anticipated tuition and fee increases for Florida colleges and state universities, according to a news release.
Prepaid Plan prices start at $34 a month for a one-year University Plan for a newborn. The four-year plan is about $135 per month. The College Plan for an associate degree or trade certification is $40 for two years.
More than 280,000 existing customers who have plans purchased since 2008 also will have plan prices lowered by more than $1.3 billion. Nearly half of these customers now have their plan paid in full and will receive refunds totaling more than $350 million. The average refund per customer is $2,600.
Information on the program is available on its website.
If a child attends an out-of-state college or private college, a Prepaid Plan will pay the same amount as it would pay at a public college or university in Florida. Every Prepaid Plan is protected by the State of Florida, and a child has up to 10 years after high school graduation to use a plan.
Students also can take advantage of Florida's Bright Futures, a scholarship program funded by the Florida Lottery that began in 1997. The program pays up to 100% tuition and fees for academic merit.
Students receiving Bright Future funding can use the prepaid funds for other expenses, including room and board.
Tuition at Florida's universities for instate students is among the lowest in the nation. For example, nine-month tuition and fees at Florida Atlantic University total $5,952.