PANAMA CITY — The Florida Board of College Governors met at Gulf Coast State College on Thursday and discussed the increase in prepaid college plans.
Florida colleges have already sold 19,000 plans in 2014 with a goal of 30,000 new plans. The increase was spurred by bills passed by the Florida Legislature that lowered the cost by about half, making what was $20,000 cost more like $10,000.
Chancellor of the Florida College System Randy Hanna said tuition costs will be retroactively applied when the plan was established, crucial with many parents preparing plans at the birth of their child. According to numbers from the Research Institute on Social and Economic Policy tuition and room and board has risen over $3,000 since 1990.
“It’s really been a big focus from the governor not to raise tuition,” Hanna said.
Hanna said there should not be any issues for colleges with the increase in plans.
“It is a sound investment,” he said.