Since 1990, college tuition in the state of Florida’s university system has increased by an average of six percent per year. At that rate, tuition for a child born this year will cost more than twice as much as it does now. Fortunately for parents with college aspirations for their young children, a Florida Prepaid College Plan will lock in today’s tuition prices – even if a child’s freshman year is decades in the future.

Your Tampa CPA at Reliance Consulting, LLC, is here to help you plan for your child’s future education. While Florida Prepaid College Plans are a smart way to avoid the headache of wondering whether you can afford college tuition down the road, the sheer number of options offered by the state can create confusion. A financial evaluation by a Tampa CPA at Reliance can help you sort through the options and figure out which method of college savings is best for your family.

One factor that applies to anyone who decides to enroll in a Florida Prepaid College Plan – the earlier in your child’s life that you open your account, the better off you are likely to be. As a Tampa CPA from Reliance will tell you, the state’s long-range estimate for tuition generally goes up each year, so the sooner you lock in a rate, the less you pay over the life of the account. Also, the younger your child is at the start of the account, the less you pay each month.

Contact a Tampa CPA at Reliance Consulting today for a complete financial health checkup and to learn how best to secure an affordable college education for your child.