<p>It depends. There was some kind of differential fee that was optional for prepaid. If you bought that, then you’re covered.</p>
<p>(I think)</p>
<p>Also Bright Futures pays a set amount per credit hour. If tuition goes up, The portion that BF covers goes down.</p>
<p>Those with current Pre-paid plans should be protected from tuition increases. Bright Futures Scholarships will only cover a small potion of tuition with the tuition increase. About 1/3 of FSU undergrads have Pre-paid plans; 2/3 will have to dig deeper into their pockets or someone elses pockets to pay proposed tuition increase. UF and FSU say they will have strong financial aid programs to make sure qualified students aren’t shut out because of the costs…hope they do!</p>
<p>Bright Futures only covered $101 per credit hour this year. For a 3 credit hour class, that means that it covered $303. The problem is that said 3 credit hour class costs $532 just for tuition, not including any fees or anything.</p>
<p>Bright Futures for me this semester covered $1313 of my tuition and fees. The problem is that my total for just classes this semester was over $2500. So Bright Futures barely covered half of my tuition.</p>
<p>With proposed Preeminent Univ Act tuition increases, Prepaid Plans will likely have to be ended or radically changed for future purchasers.</p>
<p>[Florida’s</a> prepaid tuition program could end if governor signs bill allowing some state universities to set own rates, TCPalm.com](<a href=“http://www.tcpalm.com/news/2012/mar/18/floridas-prepaid-tuition-program-could-end-if-to/]Florida’s”>http://www.tcpalm.com/news/2012/mar/18/floridas-prepaid-tuition-program-could-end-if-to/)</p>
<p>To be fair, they were already “over” in all but name. Hardly anyone buys them anymore.</p>
<p>Yeah, you’re right. Anyway, many future parents will be paying off so much student loan debt that they wouldn’t have the money to buy a prepaid tuition plan for their children even if they wanted too and the plans were still offered. The 1/3 of current FSU undergrads who do have current prepaid plans are very fortunate–their prepaid plans should pay the tuition increases with the Preeminent Universities Act.</p>
<p><a href=“http://static.lobbytools.com/bills/2012/pdf/AH7129Z11340.pdf[/url]”>http://static.lobbytools.com/bills/2012/pdf/AH7129Z11340.pdf</a></p>
<p>Tallalassie and Sweetheart - So, knowing what I know now I wish I had prepaid for my daughter who is at FSU. But I see that sweetheart stated almost no one buys them anymore. Is there a reason why no one buys them (i.e. turns out they aren’t that great an investment) and/or do either of you have it and can say if it’s something worth buying into for my younger son?</p>
<p>“A qualified Prepaid Program beneficiary who enters into an advance payment contract in the first year a SUS institution receives tuition and fee authority, or in the years thereafter, must pay the difference between the highest rate of tuition and fees covered by the advance payment contract and the tuition and fees assessed by the SUS institution of national preeminence that such qualified beneficiary attends.”</p>
<p>And does this statement from HB 7129 basically mean even if I sign him up for a Florida Prepaid right now (payment for the new year don’t start until a year from now because enrollment is open until October) that he will have to pay the difference and it won’t truly be completely prepaid?</p>
<p>I don’t have the prepaid plan, and I’m not a financial advisor, and I don’t know your financial situation; you need to seek the advice of a qualified, competent financial advisor with questions about prepaid plans. All the uncertainty about what tuition and other fees at Florida public colleges will be in the future makes it difficult for the state to continue offering an actuarially sound plan.</p>
<p>Ok, thank you. It does sound like, by the time my youngest gets to college, it won’t be financially possible to send him if I ever want to retire…I was an idiot to think the hardest part of all of this would be getting into a reputable university. I’ve lost more sleep over financial aid and tuition costs than I ever did over my daughter’s admission. :/</p>
<p>People who better off are those who purchased the plans prior to 2007. The state will have to honor those contracts. However, I truly believe that the FL Prepaid and the Bright Futures led to many of the best students staying in state. It wasn’t that the state universities suddenly improved- but that the deal to attend college in state was more financially sound for most families. I wonder what will happen to the acceptance rates at state u’s when this changes?</p>
<p>For my (theoretical, future) children, I think I’ll just invest in a private 529 account in a big index fund, rather than deal with state tuition plans. </p>
<p>The states are all but shouting from the rooftops that they don’t want to offer these plans any more and they are doing everything they can to make them unappealing. IMO, playing the stock market (provided you are well-diversified) is less risky than hoping that the state politics of 15-20 years in the future will work out in your favor. There is a risk that what you save in your 529 may not cover everything, but who says that you have to cover everything? Just do what you can and let your kids work for a scholarship or take out a loan.</p>
<p>Sweetheart- You sound very wise. My oldest daughter really got the best deal with the Florida Prepaid. I purchased it in 1988 after she was born and it was a great price. She graduated from FSU in 2010 and it was a wonderful thing to have for those 4 years.</p>
<p>However, you are correct in saying that kids should work for a scholarship or take out a loan. I had to take out a loan when I attended UMiami many years ago and it didn’t kill me. :)</p>
<p>Gov. Scott said yesterday he will consider signing the Preeminent University tuition bill if FSU operates more like Full Sail University! This coming week he will likely sign or veto the bill.</p>
<p>[Gov</a>. Rick Scott undecided on signing or vetoing bill allowing UF and FSU to make higher tuition increases | Gainesville.com](<a href=“http://www.gainesville.com/article/20120323/ARTICLES/120329763?tc=ar]Gov”>http://www.gainesville.com/article/20120323/ARTICLES/120329763?tc=ar)</p>
<p>From the article:</p>
<p>"He questioned university salaries — which he had posted online last year — and suggested that universities should consider cost-saving measures before raising tuition. Private Full Sail University holds classes in the middle of the night, he said, and state schools should consider similar steps to make better use of facilities</p>
<p>“What would you do if you were a private company? You would outsource things, you’d use more technology, you would make people more productive … You can’t just raise your prices every year,” he said."</p>
<p>Yeah, the Full Sail quote doesn’t seem well thought out. I’m not sure how midnight classes will help, and Full Sail is expensive.</p>
<p>He has a good point with the second paragraph. The problem is that Florida can’t do this alone. If UF and FSU go on a big cost-cutting/outsourcing frenzy to avoid raising tuition, it is going to hurt their quality and reputation relative to other state flagships which aren’t under this kind of pressure.</p>
<p>Ultimately, it will take the federal government to basically just stop increasing loan and grant amounts that they award. This won’t “roll back” tuition increases, but it will at least put a gentle constraint on the constant tuition increases.</p>
<p>We already lose tons of great professors to universities in other states because we aren’t paying them competitive salaries. Just because they make more than the average Florida salary, doesn’t mean we’re paying them too much. I really think Rick Scott doesn’t have a clue when it comes to education.</p>
<p>My guess is he signs it into law or does nothing which then makes it law anyway. It’s been sitting on his desk - if he was going to veto it he would have done so already.</p>
<p>That’s how I feel janna. I think that if it was going to be vetoed, he’d already have done so.</p>
<p>So, I haven’t seen anything about this in the news lately. I think it’s been 15 days. Does that mean that it is now law?</p>