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The annual open enrollment period for Florida’s Prepaid College Tuition program has begun.
Prices are lower than they were one year ago, with the cheapest plan for a newborn now costing $34.00 monthly for a one-year university plan.
A full four-year university tuition plan for a newborn starts at $135 per month.
Prices have dropped since tuition for state universities has not gone up in over a decade.
Due to the lower cost, some families that already have plans will see refunds.
Amid ongoing economic concerns, Florida Prepaid spokesperson Shannon Smith says it’s more important than ever to have some certainty within your family budget. “All of our plan prices are seeing this reduction. On average, it’s about 25 percent reduced, which is a wonderful thing, especially when everything else seems to be going up by 25 percent.”
There are several prepaid tuition options available, including two- and four-year plans to cover state colleges and universities, as well as hybrid plans for two years at a state college and two more at a university.
Any child in Florida from newborn through 11th grade may take part in the program. Open enrollment runs through the end of April.