Florida Prepaid College program turns today's savings into tomorrow's degrees

Posted at 5:40 PM, Jul 22, 2020
and last updated 2020-07-22 17:40:50-04

TALLAHASSEE, Fla. (WTXL) — The Florida Prepaid College Board is helping families rebound while saving money, but time's running out to take advantage of a special program.

"I was actually a Florida Prepaid child," said Logan Lewkow.

Lewkow talks about the money his parents saved for him before sending him off to college through Florida's Prepaid Program.

"It helped pay for my undergrad as well as part of my grad school," Lewkow said.

Now, he's saving for his daughter Ava's future.

"As soon as she got her social security number our biggest first commitment was getting her enrolled," said Lewkow.

To help other families through the pandemic, Florida Prepaid is offering a deal through their 529 savings plan.

"When you sign up for that as an automatic monthly contribution of $25 or more, we will put another $25 in the account," said Shannon Colavecchio, the Florida Prepaid Spokesperson.

She says the savings plan is a flexible, tax-free investment.

It can be used nationwide for college expenses, including tuition, room, board, and books.

"Twenty-five dollars a month over the course of 15 to 16 years can grow into several thousand dollars," Colavecchio said.

Dollars that could pay for your child's future, much like little Ava's.

"What do you want to be when you grow up? An engineer? An engineer," said Lewkow. "So hopefully we have a future little engineer. >

Families that open a new Florida 529 Savings Plan now through August 16 can earn up to $50 in their account from Florida Prepaid.

For more information click here.