As enrollment started Monday in this year's Florida Prepaid College Plans, certified financial planner Meg Green said people with limited resources might find prepaying for college "a safer bet'' but other types of plans could save parents more money in the long run, though they involve more risk.
For many parents trying to guarantee their children a college education during these uncertain economic times, the stakes could be huge -- and complicated.
A: Not much. Students have 10 years after their estimated admission date to use the funds. If they don't use the money, it will be returned, minus a $50 enrollment fee if they've had the plan less than two years. The hitch: You don't get any interest. You can also transfer the account to another qualified family member. If the student goes to a private or out-of-state college, the money can be transferred in the amount equal to average rates payable to Florida state schools.
A: Go to myfloridaprepaid.com or call 800-552-4723.
When does enrollment end this year?