If you have two or more children in the family, you probably have had to get creative in order to make your family ship sail smoothly - whether it's slicing up pizza into skinnier pieces, dividing video game time or squeezing the kids, dog, and beach umbrellas all into one vehicle for the day at the beach everyone wanted.
Managing college costs for a whole crew of children is possible. The Florida Prepaid College Plans are affordable and flexible enough to help produce college diplomas for all your children (or grandchildren). Below are a few examples:
I just remarried and want a college education for both our children.
John recently married Debbie. Each has a child from a previous marriage. Debbie’s daughter Rebecca already has a Florida Prepaid College 4-Year University Tuition Plan, but now the couple wants to send both Rebecca and her new stepbrother, Parker, to college. After contacting 1-800-552-GRAD (4723), they find out they can downgrade Rebecca’s plan. They have the option of sending both kids to college using the 2+2 Tuition Plan or funding a community college education for each with the 2-Year Community College Plan. They decide on the 2+2 Tuition Plan, so they can give both children the opportunity to earn a four-year degree.
We’re expecting a new addition to our family.
The Evans are excited about bringing a baby sister home to David, their 2-year-old son, but they are concerned about how they can afford to send two children to college. David already has a 4-Year University Tuition Plan and they couldn’t afford an additional one. So they called 1-800-552-GRAD (4723) to discuss options. They were told they could downgrade their 4-Year University Tuition Plan to the 2+2 Tuition Plan or 2-Year Community College Tuition Plan to accommodate the newborn. They chose the 2+2 Tuition Plan and stayed within their budget.
I have a grandchild in Florida but I live in New York.
Mr. Douglas would love to do something special for his new grandson, Trevor. After speaking with his daughter about it, he decided that setting up a college fund would be a great idea. Because Trevor lives in Florida, Mr. Douglas was able to open a Florida Prepaid College Plan for him. After creating his account online, Mr. Douglas decided to add the Dormitory Plan, Tuition Differential Fee Plan and Local Fee Plan options to the 2+2 Tuition Plan he selected so Trevor and his parents won’t have to worry about those costs either. In just a few minutes, the account was all set up and the cost of Trevor’s collegiate future was taken care of.
I’m a proud grandmother of two, but they live in two different states. How can I ensure they both get a college education?
Mrs. Johnson is a widower who has retired in Florida. She has two darling grandchildren, Michelle in Connecticut and Josh in Illinois, whom she would like to send to college. When she called 1-800-552-GRAD (4723), she found out she could open a Florida College Investment Plan for each grandchild and contribute up to $349,000 to cover the cost of college tuition, fees, books, room and board and even computers. Each plan can be opened initially with a minimum of $250 or a $25 a month automatic bank withdrawal and she decided to have funds withdrawn monthly from her bank account. When Michelle and Josh graduate from high school, they can use their Florida College Investment Plans to attend the college or university of their choice anywhere in the U.S.
Don’t see your particular situation listed above?
For more information on your tax-free college savings options with Florida Prepaid College Plans, call 1-800-552-GRAD (4723) to speak with a customer service representative.