Rohan starts Kindergarten in August. He’ll start college in 2030. His sister is two years behind him. 2030 sounds so far away, but when I think that Ro will be in Kindergarten this year, and I feel like I just gave birth to him last Tuesday… I know it’ll fly by faster than we know it.
John and I are preparing in a few ways. Saving and research mainly.
Rohan even saves for college himself when he finds coins laying around. It’s cute seeing him put it in the jar like “yup…this nickel is securing my educational future.”
I’ve been researching the options for homeschooling and taking college courses during high school years for credit. This seems to be fairly common, and a way to end up having to come up with less tuition after they graduate high school. (Yay!)
Saving is automated. I put a portion of every freelance check I receive into an account for Ro and Kai. Starting early is crucial for us…more time to save means less to put away each month. It’ll make the sticker shock of tuition easier to deal with when Ro is 18.
Living in Florida opens us up to the Florida Prepaid opportunity. You can put money aside throughout the years for your children’s education. I was hesitant about it when I first learned about it, but all my worries were allayed after I researched:
What if he doesn’t go to a school in Florida? The Prepaid Plan can be used at schools nationwide.
What if we move to California? (Something we’re talking about) Rohan would still be billed at in-state tuition rates if he’s in a Florida school.
What if he gets a scholarship? We can change the beneficiary (more for Kaya!) or get a refund.
What if he doesn’t go to school at all? After my heart attack, we can change the beneficiary or get a refund.
What if he takes time off before school? He has up to 10 years to use the funds.
It’s nice to know that the money is guaranteed by the state of Florida so no matter what, we’ll never lose our investment.
I like having options to help us not go completely broke when we have 2 kids in college at the same time. College education is a gift I’d really like to give my children. I worked and put myself through college and while it wasn’t the worst thing in the world, I want my kids to just enjoy college and only work for their clothes (and party) spending money.
Go visit the Florida Prepaid site for more info or click here: http://www.myfloridaprepaid.com/wp-content/uploads/Quick-Start-Guide.pdf
If you want to ask specific questions about the Florida Prepaid plan join the #StartingisBelieving Twitter Chat that will be 2/23/17 at 9p ET. http://bit.ly/sibchatrsvp You’ll find out so much more.
If you are ready to sign up for Florida Prepaid right now, use the promo code BLOG1617 to save 50% off the enrollment fee.
Enrollment period ends on February 28th so get crackin’
Are you saving for your child’s education?
BRAVO! I’VE HAD A SAVINGS ACCOUNT SINCE AGE 10 – some used for college along with a scholarship, later to purchase a tiny condo, but most left for the future. At age 76 I now have income from those investments to supplement my somewhat feeble social security – enough to allow some travel every few years to places like Costa Rica, London, France. Every time I am enjoying adventures [and when I receive statements], I bless my mom for getting me started saving 1/2 of my earnings from babysitting, leaf raking, peddling fresh asparagus and rhubarb from a long forgotten Victory garden. I still save a bit for special treats.
london ….