This post is sponsored by the Florida Prepaid College Board through my role as a Believer Blogger. All thoughts are my own.
In preparation for this post, I went to my 11 year old daughter for inspiration.
We’ve already talked quite a bit about her college plans – she wants to attend a 4-year university, study science or engineering, and possibly go on to become an astronaut. She knows that college is expensive and that saving for it is important, but we haven’t yet gone into much detail about her Florida Prepaid College Plan or our plans for paying for college.
Last night, I asked for her thoughts about saving for college. She told me about her friend who loves to spend his money – as soon as he gets allowance or birthday money, he goes shopping. He never saves a dime. Then she talked proudly about her own savings account: “I put most of my money right in the bank. I never spend it, so I’ll probably just use it for college someday!” Proud Mommy Moment!
Her thoughts were particularly wise, considering that she’s not even aware of a “little” thing called Student Loan Debt. According to the Wall Street Journal, the average 2016 college graduate carries a college debt load of about $37,000. The current student debt amount is rising over $2,700 per second. No, that’s not a typo.
Oh, and just in case those stats aren’t enough to freak you out, here’s one more: Florida ranks in the Ten Worst States for Paying Back Student Loans. (C’mon, Florida, where’s our Sunshine??)
My family is doing our best to avoid this burden by purchasing Florida Prepaid College Plans for both of our daughters.
For more than 25 years, the Florida Prepaid College Board has provided families with financially sound options to help save for college. Florida Prepaid is the largest, most successful, and longest-running prepaid program in the nation. Nearly one out of every 10 children in Florida from newborn to high-school age has a Florida Prepaid Plan – savings plans that are guaranteed by the State of Florida.
For the third consecutive year, Florida Prepaid plan prices remain near historic lows. Families have lots of affordable options, with plans starting at less than $47 per month. I know times can be tough, but think about it this way – by putting aside just a few dollars a day now, you can have a tremendous impact on your child’s future. As a Florida Prepaid student myself, I can personally attest to this. My parents’ forethought gave me options that I wouldn’t have had with the burden of $37,000 in undergraduate debt. (Thanks, Mom and Dad!)
Open Enrollment for Florida Prepaid continues through February 28, 2017, so you still have time to research your options. You can visit www.MyFloridaPrepaid.com to learn about plan options and to answer any questions that you might have. If and when you do enroll, you can use promo code BLOG1617 to save 50% ($25) on your enrollment fee.