It’s never a bad time to save for college, even during the holidays. In fact, the holidays are a great time to start saving because you can give college savings as a gift! Check out my tip on how to give the gift of education this holiday season. This post is sponsored by Florida Prepaid, but all opinions are my own.
It’s the busy holiday season and the last thing on your mind is saving for college, right? I get it! Even I buy into consumerism this time of year. It’s hard not to with all the good deals and shiny new objects begging to be bought in every store. Target- I’m looking at you.
I recently wrote a post about how to ask grandparents for money as a Christmas present. We do this because we use that money to put into our kids’ college savings 529 accounts. That post stirred up some controversy on my Facebook page! It turns out that a lot of people think it’s tacky to ask for money. Go ahead and call me tacky because my boys collectively have nearly $10k saved for college- entirely from family gifts over the last 5 years.
Grandparents and extended family aren’t the only ones that can contribute to saving for your kids’ education. It all starts with the parents!
How to Give the Gift of Education this Holiday Season
This year consider enrolling in a prepaid college plan. I recommend this for everyone in every state, but I happen to know the most about Florida since it’s where I live and it’s the program that we’ve used for our boys.
The thing I love most about Florida Prepaid College Plans is that they are guaranteed and secure. You cannot lose the money that you put into the plan, unlike traditional investments. It’s the reason we have a 529 savings account and the prepaid plan. You can’t ever be too prepared for an education!
There is a Florida Prepaid College Plan for every budget, in fact, they start as low as $50 a month. My personal favorite, the one we used for our boys, is the 4 Year Florida University Plan.
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4-Year Florida University Plan
- This Plan will start your child off at one of Florida’s 12 prestigious state universities and see them through their four-year journey.
- If your child decides to start at a college (typically less expensive), the unused funds from this Plan can be applied to a post-secondary degree or you can get the remaining money back
- Like all of the plans, use isn’t restricted to Florida schools; the amount covered by your Prepaid Plan can be used at schools nationwide.
The other plans include a 1-Year University Plan, a 2 Year College Plan, a 4 Year College Plan, and a 2+2 College Plan. Learn all about the differences by going to the Florida Prepaid website.
Have you set up a plan for your kids to go to college?