Get Your Child Set Up for Success with a Prepaid College Plan

Disclosure: This is a sponsored post but all opinions expressed here are mine.

Financial freedom is the thing that dreams are made of for most adults living in today’s society. Most college graduates start the beginning of their adult lives saddled with extreme debt that comes from having to pay mounting education expenses while also going to school full time and/or working. Financial responsibility is something that we promote heavily here on Real Advice Gal. What better gift can one give than learning to be responsible with your money and expenses?

One thing we are doing in 2017 is making our children’s education savings priority. Our New Year’s resolution is to start while they’re young teaching them financial responsibility. There are many ways to cut costs in your daily life to be able to afford the payments necessary to get your child’s educational future off on the right foot. Not only will you have the peace of mind that comes from knowing that their college expenses are taken care of, but you will be teaching them that putting themselves, their education, and their financial future as a priority is extremely important and should be taken seriously.

We can help the next generation side step that debt right now by purchasing a prepaid college program for them. What better gift is there? Though it’s not as much fun to unwrap, the give the gift of a debt free education will mean so much more to them. And in the very near future they will realize how special it was that their family provided for them like this.

In our family we believe that two years community college and two years university is the best way to go. Here are the details of that plan so you can see if it is also right for your family:

The 2 + 2 Florida Plan allows your child to receive a degree from one of Florida’s prestigious State Universities for less than a typical four-year university degree. How? By starting your child off at one of the state’s 28 Florida Colleges (formerly Community Colleges), you’ll save money on lower-level courses before transferring to a State University to finish off their degree. Even better, students with this plan are guaranteed admission to a State University once they’ve earned their associate’s degree at a Florida College. With admission becoming ever more competitive, that can be a huge benefit.

What’s Included
The 2 + 2 Florida Plan covers tuition, tuition differential fee and other specified fees for 60 lower division credit hours at a Florida College and 60 credit hours at a State University.* Without the high cost for all four years, your child will still walk across the same stage with the same degree in the same amount of time as if they went straight to a State University, and will do so knowing both of you have saved money.

How To Enroll
Here is what you’ll need to enroll:
* Open Enrollment is October 15, 2016 – February 28, 2017.
* No payment due until April 20, 2017.
* Be sure to have read the Master Contract.
* Have your and the child’s Social Security Numbers available.
* Have your bank account information available, if you would like to set up automatic withdrawal.
* Have the driver’s license of the child’s parent or legal guardian to submit proof of Florida residency online.

Flexibility
The 2 + 2 Florida Plan is designed to be used at a Florida College first and then at a State University, but the amount covered by this plan can also be applied to other schools nationwide. Also, other important flexibility considerations include:
* If the child receives a scholarship, such as Bright Futures, the amount covered by the 2 + 2 Florida Plan, not just what you paid in, can be refunded or used to pay for tuition and fees not covered by the scholarship.
* If the child moves out of Florida, the child remains eligible for in-state tuition and fees at a Florida College or State University while using his/her 2 + 2 Florida Plan.
* The child has 10 years from the projected enrollment year selected on the application to use his/her 2 + 2 Florida plan.
There are several other plans that may fit your child’s future education needs. Check out this link to see what other plans are available:

Myself and several of the other writers here at Real Advice Gal have plans for our children and they are all customized as our children and family situations are different. Please visit the Florida prepaid website for more information on all of the different levels of prepaid plans available to you and your family. Open enrollment is only once a year and is going on now through February 28, 2017. Click here for more information.

Some more good news! Use the code BLOG1617 for 50% off your application fee – a savings of $25!

Do you have a prepaid college plan for your child? What type of financial goals have you set for you and your family this new year?