Florida Gov. Ron DeSantis announces lowering of Florida Prepaid College plan prices by $1.3 billion

Gov. Ron DeSantis made an announcement at FSCJ South Campus that Florida Prepaid plans would be lowered in cost.

JACKSONVILLE, Fla. — Florida Gov. Ron DeSantis stopped Jacksonville the day before the state legislative session gets underway to announce the lowering of Florida Prepaid College plan prices.

On Monday morning at Florida State College at Jacksonville’s downtown campus, DeSantis said prepaid plan prices would be lowered by a total of $1.3 billion.

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DeSantis said that reduction benefits 224,000 current customers. Nearly half of those families have refunds available to them right now totaling more than $500 million, the governor said.

Those average cash refunds are around $4,700, DeSantis said. Families also have the option to move those monies to a savings plan so they can be used for supplies.

The remaining plans will have lower monthly payment amounts.

Because of lower-than-anticipated tuition increases and fee inflation, DeSantis said the Board decided to pass along savings to Floridians.

Ambassador John Rood was with DeSantis at FSCJ when he made the announcement.

Rood said these reductions will affect plans that were purchased in 2008 or later.

“I encourage anyone who has not yet started saving for college with Florida Prepaid to look at these new lower prices as a chance to start saving now,” Rood said.

Lawmakers in Florida are heading back into session Tuesday.

Previously, DeSantis pitched a $1 billion push into the state’s education system for the upcoming year.

A large portion of that money would go toward pay increases as we’re seeing a teacher shortage across the state.