Jacksonville, FL — Florida Governor Ron DeSantis stopped Jacksonville the day before the state legislative session gets underway to announce the lowering of Florida Prepaid College plan prices. DeSantis said prepaid plan prices would be lowered by a total of $1.3 billion.
The reduction benefits 224,000 current customers. Nearly half of those families have refunds available to them right now totaling more than $500 million, the Governor said.
Those average cash refunds are around $4,700, DeSantis said. Families also have the option to move those monies to a savings plan, so they can be used for supplies. The remaining plans will have lower monthly payment amounts.
Because of lower-than-anticipated tuition increases and fee inflation, DeSantis said the Florida Prepaid College Board decided to pass along savings to Floridians. Ambassador John Rood was with DeSantis at FSCJ when he made the announcement. Rood said these reductions will affect plans that were purchased in 2008 or later.
“I encourage anyone who has not yet started saving for college with Florida Prepaid to look at these new lower prices as a chance to start saving now,” Rood said.