TALLAHASSEE, Fla. – This year, it could truly pay to save for college early. The Florida Prepaid College Board has launched the 2017-18 Open Enrollment period with a pledge to pay off one early purchaser's Prepaid Plan.
Anyone who purchases a Prepaid Plan now through November 30, 2017 will be automatically entered to win the gift of college from Florida Prepaid, with the Winner's Plan being paid off through the 2017 Florida Prepaid "Pay Off Your Plan" Promotion.
"For these families who believe in the value of saving early for college by starting their Florida Prepaid College Plan in the weeks ahead, we want to show our appreciation," said Florida Prepaid College Board Chairman John D. Rood. "We are serious about helping families save for college and avoid debt, and look forward to paying off one lucky winner's plan."
Student loans are now the No. 2 source of debt in America as reported by the Federal Reserve Bank of New York, behind only mortgages, and student loans make up 10 percent of all U.S. household debt. Student loan debt can be a burden to college graduates, potentially delaying home ownership and other financial milestones. You can help your child avoid being part of this growing statistic.
The Board hopes the promotion will encourage families to start developing a plan for college savings, no matter how far off college might seem for their child. The earlier a family starts planning for college savings, the less they need to set aside each month.
Also eligible to win will be pended Plan enrollments, which includes Plans started on March 1, 2017 to date, which become active on October 15, 2017. Never in the 30-year history of Florida Prepaid has such a promotion been offered.