Finding the perfect gift for children and grandchildren is a challenge. But there is one gift that every child needs and is guaranteed to last a lifetime – a college education. The gift of education is priceless and one that a child won’t outgrow. Now in time for the holidays, parents and grandparents can purchase a Florida Prepaid College Plan or open a Florida College Investment Plan online at www.florida529plans.com, where printable gift certificates can be downloaded as stocking stuffers.
"With these savings plans, you can give the gift of higher education and realize your goal of investing in the future of your children and grandchildren," said Governor Charlie Crist.
In addition to being a wonderful gift for any child, these 529 college savings plans are tax-free. Once a plan is purchased, relatives and friends may want to contribute to the plan as their holiday gift to a child.
Gary Fane of Jacksonville, a retired University of North Florida professor, understands the importance of education. The Fane family purchased a Florida Prepaid College Plan for their daughter, who attended the University of Florida in the late 1990s. Now Fane has given four grandchildren, including his 10-month-old grandson Noah, a Florida Prepaid College Plan.
"It was such a good value," said Fane. "Tuition increased by about 35 percent from the time we purchased the plan until she (my daughter) attended college, so we saw the savings this plan provided us. We decided it would be a great idea to purchase plans for our grandchildren."
Families have the opportunity to prepay tuition, local fees, a new tuition differential fee and dormitory housing with the Florida Prepaid College Plan. For a newborn, the four-year university tuition plan currently costs about $3 a day. The two-year community college tuition plan begins at about $1 a day. The price will depend on the type of plan purchased and the age of the child. To purchase a plan, the child or the child’s parent or guardian must be a Florida resident. When a child goes to college, the Florida Prepaid College Plan covers the actual cost at any Florida public university or community college. If the student attends a private or out-of-state college, the value of the plan may be transferred.
Now in its 20th enrollment year, the Florida Prepaid College Plan is financially guaranteed** by the State of Florida. Families with a Florida Prepaid College Plan do not have to worry about the stock market or remember to set money aside for college. Once a child is enrolled, plan payments do not increase.
Parents and grandparents also can open a Florida College Investment Plan starting with as little as a $25 a month bank withdrawal or a $250 initial deposit. Tax-free savings will accumulate in that plan for a child’s future use for qualified college expenses such as tuition, books, fees, and room and board at accredited colleges anywhere in the U.S. Purchasers do not have to be Florida residents. And the Florida College Investment Plan gift certificate and gift coupon on www.florida529plans.com allow anyone to make a direct gift to a child’s Florida College Investment Plan.
So bypass the crowded shopping malls and the checkout lines that seem endless this holiday season, and take 15 minutes to enroll a child or grandchild in the Florida Prepaid College Plan or Florida College Investment Plan.
Like the holidays, the deadline for enrolling in the Florida Prepaid College Plan is quickly approaching. To obtain current plan prices, families must sign up by January 31, 2008.
Florida Prepaid College Plan Gift Certificate
Florida College Investment Plan Gift Certificate
To give a child or grandchild the gift of a college education, enroll in the Florida Prepaid College Plan or Florida College Investment Plan online at www.florida529plans.com. Or call 1-800-552-GRAD (4723) to request an Enrollment Kit and application in English or Spanish and to speak with a customer service representative. January 31, 2008 is the deadline to receive current Florida Prepaid College Plan prices!
For more information, contact Diane Hirth, Florida Prepaid College Board, (850) 488-8514 or e-mail diane.murdock@myfloridaprepaid.com.