This post is sponsored by the Florida Prepaid College Board, through my role as a Believer Blogger. All thought are my own.
Did you know that “refinance student loans” is searched nearly 50,000 times each month? According to Student Loan Hero by LendingTree (source), in 2018 69% of college students took out student loans and graduated with an average debt of $29,800. Parents took out even more – with an average of $35,600 in federal Parent PLUS loans.
These numbers are staggering – and only continue to add to the $1.56 TRILLION dollars owed in Student Loan Debt across the country. Instead of trying to figure out how to pay off student loans, why not learn how to avoid student loans in the first place? That is where Florida Prepaid comes in.
Florida Prepaid is the longest standing prepaid college program in the nation with over 450,000 students attending college with a Prepaid Plan since 1988. Backed by the State of Florida, you can start saving for your child’s future long before that first college admissions form is sent.
Florida Prepaid offers several different college savings programs to fit your goals and budget. These college savings plans can be used for almost all college-related expenses – they even offer dormitory options! A Prepaid Plan even locks in coverage for a full 10 years after your child’s projected high school graduation/college enrollment year.
Setting up a Florida Prepaid College Plan is simple – you simply choose the plan that works for you, make your payments, and then have the peace of mind that when it comes time for your child or grandchild to head off to college, your Prepaid Plan is there to help them avoid having to take out tens of thousands of student loan debt.
If your student receives a scholarship, you can use the Prepaid Plan to cover other costs like grad school or get a refund for what Florida Prepaid would have paid out to go towards housing, supplies, etc. The benefits you receive will never be less than what you paid in – so you can not lose money. It is a total win-win.
This is the final week of Open Enrollment for Florida Prepaid, and you can save $30 on your application fee with the promo code MOMMY19. Start today helping your child AVOID Student Loan debt so that he or she will not have to be one of the 50,000 searching how to refinance those loans in the future.