JACKSONVILLE, Fla. – Friday is the deadline for families to purchase Florida Prepaid Plans for their child's college education.
According to the Florida Prepaid College Board, prices of the most popular prepaid plans are currently being offered at almost half the cost of last year's prices due to a new state law that helps control future fee increases at state universities in Florida.
The cost of a four-year Florida University Plan for a newborn this year costs $173 per month, down from $350 a month last year.
New this enrollment period, the cost of a one-year Florida University Plan, which covers 30 university credit hours, starts as low as $43 per month. Additional years can be purchased at a different time.
The first payments on plans purchased aren't due until April 2015.
According to the Florida Prepaid College Board, since open enrollment began on October 15, 2014, a total of 34,746 plans have been sold, which is more than double the 15,803 plans sold during all of Open Enrollment last year.
For more information, visit myFloridaPrepaid.com.