Have you ever really wondered Why It’s Important To Save For College? I have some great thoughts from kids of all ages, plus some great resources to help answer that question. This post is sponsored by Florida Prepaid College Plans, through my role as a Believer Blogger. All thoughts are my own.
Why It’s Important To Save For College
There have been a lot of things happening in the world lately, and I don’t know about you, I am looking forward to brighter days ahead. My whole family is. My friends are. I think we all are!
My kids are looking forward to seeing their friends at school, they are looking forward to a regular schedule again, I think they are even looking forward to waking up early and getting ready for school. My son will start his sophomore year of high school next year, and that means he will be in college in just two short years. Thinking about going back to school and our quickly approaching college years, I almost immediately think about the upcoming financial responsibilities that come with him starting college. Thankfully we started saving for college for him when he was just 6 months old.
But did you know you can actually start saving for college at anytime? Today, tomorrow…any day. And did you know that you can start saving for college with any amount that you would like? In fact, right now when you open a Florida 529 Savings Plan now through August 16, Florida Prepaid will put $25 into your account. Set up an automatic monthly contribution of $25 or more, and they’ll add another $25. That means you are getting a free $50! And there are absolutely ZERO fees to open a Florida 529 Savings Plan. Sounds like the perfect time to start saving for college doesn’t it?
As parents, I think we understand why it’s important to save for college. For starters, it helps secure our child’s educational future, it helps reduce future debt, it gives us financial peace of mind, it’s one less thing to worry about, I could go on and on…But what do kids think about saving for college? Do kids think it’s important to save for college? Well, I decided to find out.
I interviewed some friends and family members why they thought saving for college was important and I wanted to share their answers. It was actually interesting because I don’t think it’s something that kids think about regularly, but I know it’s something that parents are always thinking about.
Question: Why do you think it’s important to save for college?
Emily (age 16) So you can decrease your student loan debt coming out of college.
Steven (age 15) So you can have a good future and live a good life.
Molly (age 13) I think it’s important to save for college because then you can have a good education and it will help you to be prepared in life.
Ava (age 12) I think it is important to save for college because it secures your future. College will give me a platform to launch my career, ensuring that going to college will happen is extremely important.
Sadie (age 12) So when you get into college you can pay for textbooks and things you may need.
Teagan (age 3) I don’t know!
As you can see, each answer was a bit different. However, most of them understood that college costs money and that college helps them prepare for their future. Enrolling in a Florida 529 Savings Plan can help you save for your child’s future.
Here are A Few Things To Know Before Opening a Florida 529 Savings Plan:
- You can open a Florida 529 Savings Plan for free. There is no application fee or minimum contribution to get started.
- There is no open enrollment period, you can open a Florida 529 Savings Plan whenever you are ready.
- Florida Prepaid is running an exciting promotion now through August 16 where you can receive up to $50 in your account for free. All you have to do is open a Florida 529 Savings Plan with $25 and Florida Prepaid will put $25 into your account. Set up an automatic monthly contribution of $25 or more, and they’ll add another $25.
- The Florida 529 Savings Plan allows you to create your own plan to save for college and K-12 education. You get to choose how you want to invest your savings using the investment options offered by the plan. Florida Prepaid has 14 investment options available, such as; predesigned age-based portfolio, predesigned static portfolios, and a suite of individual investment funds, which cover a broad spectrum of asset classes.
- You can lose money that you have invested, unlike a Florida Prepaid College Plan, the degree of risk varies based on the investment options selected.
- Earnings are tax-free when used for qualified higher education expenses.
- You use your savings to pay for actual costs of college or K-12 education at any time.
- You can contribute to your Florida 529 Savings Plan as often as you would like, with any amount that you would like. You can make your contributions online, via mail or with automatic payroll deduction with a participating employer.
- The plan can be used nationwide. So, if you child decided to go to a college or university outside of Florida, they can still use the funds from the 529 Plan.
- There is no set time period for using the plan, and it can be transferred at any time to an individual 18 years of age or older and a U.S. citizen or legal U.S. resident.
There is also a FREE webinar on July 23, 2020 at 12:00 pm EST to learn how a 529 Savings Plan can cover all the other college expenses like housing, books.
You can reach out to Florida Prepaid College Plans with any questions, the Florida Prepaid College Board customer service number is 1-800-552-4723.
Don’t forget to take advantage of the current Florida 529 Savings Plan promotion where you will receive $25 in your account for free when you open a Florida 529 Savings Plan with just $25. Set up an automatic monthly contribution of $25 or more, and they’ll add another $25.
Feel free to print this Free Frequently Asked Questions Printable to help answer any additional questions that may pop up when thinking about opening a Florida 529 Savings Plan. Or as your reminder to open one when you can 🙂
So, Why Do You Think It’s Important To Save For College?
Learn more about Florida Prepaid College Plans online and feel free to follow Florida Prepaid College Plans on Facebook, Twitter, and YouTube to stay up to date with information on Open Enrollment but get tips on college and more.