TBO.com - TBO is Tampa Bay Online

Prepaid College Plan Enrollment Dips

ADVERTISEMENT

By ADAM EMERSON

aemerson@tampatrib.com

Published: January 29, 2009

As the economy sours, families are forced to make tough decisions, and many already have decided against the state's college savings plan.

Though usually a popular option for parents, enrollment in the Florida Prepaid College Plan is down 20 percent from this time last year.

"It's a choice for families, and families are obviously, in general, struggling," said Diane Hirth, a spokeswoman for the board that administers the plan.

Families have until Saturday to buy into any one of several options that lock in the price of future tuition and fees at Florida's colleges and universities.

Rates for the plan increased 6.5 percent this enrollment period, which began in October. The cost of a four-year university tuition plan for a newborn, paid in one lump sum, is $14,359. The same contract last year cost $13,516.

The plan, however, is risk-free. It's guaranteed by the state, regardless of economic downturns. Other college savings options, such as most 529 plans - so named because of the Internal Revenue Service code that created them - fluctuate with market conditions.

Families can sign up for the Prepaid College Plan at www.myflorida prepaid.com or by calling 1-800-552-4723.

Reporter Adam Emerson can be reached at (813) 259-8285.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT