Have you given thought to your child's future?
Albert Einstein is attributed to having said compound interest is 'the greatest mathematical discovery of all time.' One of the great things about the Florida Prepaid program is that it builds compound interest. That means when you save you are earning interest on the interest!
When I maxed out my credits there I moved to a four year college as a junior. I didn't have the funds to attend school at a four year college, and I couldn't use money from the FAFSA because my parents made 'too much money.' Although they did not help me financially with school, their income affected my financial outcome.
A counselor suggested I get student loans. She said it would make it easier for me to attend school and so I took her advice. My loans were not large compared to the cost of living, $5,000 the first semester, a bit more the next. I finished with a Bachelor of Arts in Liberal Studies with an emphasis in English. After this, I went back to school to get my teaching credential for California. That was 14 years ago. I still owe $87,000! If only my parents had invested in a prepay program for me!
How much will it cost my child if I don't join the Florida Prepaid program vs. if I do join the Florida Prepaid program?
Why choose Florida Prepaid?
- has been around for 25 years. That is one of the oldest prepaid state plans around.
- has had over 1.6 million customers to date.
- has over $10 billion in assets.
- is fully self supporting.
- was rated as one of the best college saving plans by SavingforCollege.com and Morningstar.
- Every prepaid plan is guaranteed by the state of Florida.
- The program allows you to prepay the cost of college.
- Florida Prepaid pays the tuition, tuition differential fee and other specified fees covered under the plan.
- The money is good for schools in the state of Florida or any other of the 50 states in America and will pay what it would cost to go to a public college or university in Florida. (This does not include non-profit schools).
- If your child receives a scholarship for school, you can either get a refund for the prepaid plan.
- The plan is good for up to ten years after a child graduates high school and the deadline can be extended if needed.