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Florida Prepaid extends open enrollment, defers payments due to COVID-19

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Posted at 1:24 PM, Apr 20, 2020
and last updated 2020-04-20 13:24:54-04

The Florida Prepaid College Board is extending open enrollment until May 31, to help families as they navigate the challenges related to COVID-19.

In addition, earlier this month the board announced that, for the first time in its history, it would defer Prepaid Plan payment due dates for both current and new customers until July 2020 to provide a financial cushion to Florida families.

“During this challenging situation, we know that many families will need additional time to make their college savings decisions,” said Board Chairman John D. Rood. “We hope that the Open Enrollment extension and deferred payments will give families the flexibility they need.”

All Prepaid College Plans are guaranteed by the State of Florida, ensuring families can never lose their investment.

A Prepaid Plan allows families to lock in future college costs for less so their child’s college tuition is ready and waiting for them

Families can use the online Prepaid Plan pricing tool to determine what the various plans cost based on a child’s age, as well as explore the different payment options available. Prepaid Plan prices start at $44 / month for a newborn – the lowest in five years.

“We are in unprecedented times for our state as Florida continues to deal with the ramifications of COVID-19,” said Kevin Thompson, Florida Prepaid Executive Director. “But we also know that the future remains bright for tomorrow’s college students. Even as we all cope with the challenges of today, we encourage Florida families to take comfort in knowing that you can never lose money with a Prepaid Plan.”

If a child attends an out-of-state college or private college, Florida Prepaid will pay the same amount as it would pay at a public college or university in Florida.

Every Prepaid Plan is guaranteed by the State of Florida, and a child has up to 10 years after high school graduation to use a Plan.

For more information about deferred Prepaid Plan payments, visit myfloridaprepaid.com.