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Florida Prepaid College Prices Drop; Thousands To Get Rebates

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Joe Burbank
/
Orlando Sentinel
The cost of Florida's prepaid college plans will lower by $1.3 billion.

The Florida Prepaid College Board has lowered plan prices by $1.3 billion, benefiting 224,000 families and resulting in refunds of more than $500 million.

The price reductions apply to plans purchased since 2008, according to a news release from the Florida Prepaid College Board, which said Monday it was lowering plan prices.

Refunds will vary individually depending on when families bought their plan, with the average refund being $4,700, Prepaid officials say. About 33,000 students will be getting refunds or lower monthly payments in Broward County, 38,000 in Miami-Dade and 24,000 in Palm Beach County, officials said.

Read more at the Sun Sentinel.