Prepaid sales drop due to high prices
Article from Sun-Sentinel:
March 21, 2014|By Denise-Marie Ordway and Scott Travis, Staff writers
The number of people investing in the Florida Prepaid College Program plummeted 30 percent during the open-enrollment period that ended late last month.
About 11,300 families signed up to participate in the program in 2013-14 — down from almost 16,300 the previous year, agency records show.
Enrollment fell 17 percent between 2011-12 and 2012-13.
The most common theory for those declines is the cost. The price tag for the most popular four-year university plan was $ 53,729, quadruple what it was in 2006. For those paying monthly, the cost is $ 350.35 a month for more than 18 years.
“It’s out of control. It’s lost the purpose for which it was created,” said Olga Cano of Miami, who has bought plans for two young family members in recent years.
From its creation in 1988 until the mid-2000s, Prepaid costs were similar to the current rate…………………continues on Sun-Sentinel
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