Florida: Parents Reeling from Spike in Prepaid College Plan (St. Petersburg Times)
"The prepaid plan for a tuition rate charged by universities -- one that is expected to rise year after year -- shot from a lump-sum payment of $4,614 for a newborn infant last year to $19,776 this year. And that's on top of the state's base tuition, which is also going up," the St. Petersburg Times reports. "These increases come as the average cost of a college education races far ahead of inflation. Nationwide, in-state tuition and fees at four-year public universities now average $7,020, an increase of 6.5 percent over last year, according to the College Board. 'It's getting near a breaking point,' said James A. Boyle, president of the nonprofit College Parents of America. 'Schools really see no reason to lower their prices or keep their prices steady because they see this line-up of people who want what they're selling -- a college degree.' This year's enrollment period for the Florida prepaid program started Oct. 19 and will continue through Jan. 31."
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