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Cost of tuition going down in Florida next year
The cost of pre paying for a college education is about to get cheaper for 50,000 people who have purchased prepaid plans since 2011.
How the cost of a plan will drop almost 20,000 dollars when enrollment opens this fall.
54,000 dollars is the price tag on a prepaid college plan for a child born in 2013.
But when enrollment opens in October, the cost will drop dramatically from 54 to 35 thousand.
Monthly costs will drop from around 350 dollars to 250.00 dollars.
The lower prices are a result of legislation signed by Governor Rick Scott. It takes away the authority of universities to raise tuition by up to 15 percent a year. Kristin Lock of the Prepaid Program says plan holders won't have to do anything but wait to see lower rates or refunds.
Kristin Lock FL. Prepaid College Program
"We can assure our account owners that no one will have paid more than what those plans..those new plan prices will be."
FSU Trustee Susie Busch Transou got in hot water with the Governor last year because she allowed tuition to go up...she still thinks lower tuition rates can be short sighted.
Susie Busch Transou FSU Trustee
"Universities need the resources to employ the best faculty that the universities can employ. To have the best resources to provide the education the students deserve."
The 19,000 dollar drop is only an estimate for now. Plan Payments will be calculated and approved in September.
Plans purchased after 2008 to cover differential tuition and plans purchased after 2011 to cover a full four year ride or two years at a junior college and then two years at a university----will all see refunds.
Of the 12 state universities, only Florida State and the University of Florida will be allowed to raise tuition annually---
But they can only raise it by 6 percent...Not 15 percent which was allowed under the previous law.