Parents won’t need to pay into Florida Prepaid until July

As the COVID-19 pandemic challenges Florida families, officials with Florida Prepaid College Savings Plans have deferred payments for April, May, and June.  The move will help longtime plan-holders and those who just signed up during the 2020 Open Enrollment Period that started on February 1st and runs through April 30th.

The deferment in payments comes as the spread of coronavirus in Florida creates both a public health and economic crisis.  Florida cases of COVID-19 positive tests exceeded 13,000 as of today.

“We want to assure you that Florida Prepaid is here for you as Florida continues to cope with the impact of Coronavirus (COVID-19),” reads a letter to parents obtained by Historic City News.

Florida Prepaid official, Executive Director Kevin Thompson, says the normal payment schedule will kick back in on July 20. Payment schedules for customers will extend for three months.

The decision to defer payments comes months after Florida Prepaid announced it was issuing more than $500 million in refunds to customers who have plans dating as far back as 2008, thanks to lower than anticipated tuition and fee increases in recent years.