TALLAHASSEE, Fla. (WTXL) - Parents looking to sign their kids up for Florida Prepaid should expect to shell out more money, as the price is going up.
Florida's Prepaid College Board set new rates for the tuition program. Full four-year University plans will now start at $183 per month, up $10 a month from last year.
Last year, more than 42,000 families signed up for plans after prices went down by almost 50%.
There are cheaper plans available, including one that combines a University plan with a State College plan.
A newly added plan is the one-year University plan, which allows different family members to each purchase one year of education for a student.
Florida Prepaid Spokeswoman Shannon Colavecchio says the program is designed to allow families to pay years in advance and lock in the costs of sending students to state colleges or universities.
"College savings is a huge way to not only help your child have the message that college is a goal, but also it will help them get there," said Colavecchio. "It will make their debt much less when they come out of college. College debt is a huge issue nowadays."
Open enrollment for the Florida Prepaid College Tuition program begins October 15, 2015 and ends February 29, 2016. For more information, visit www.myfloridaprepaid.com.
More than 1.6 million Florida Prepaid College plans have been purchased since the program started in 1988.
