Prepaid College Increase Possible
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The found of Florida's Prepaid College plan is fighting a proposal to allow all state universities to increase tuition by 15 percent a year.
The concern is that increasing tuition could make the prepaid plan too expensive for Florida families new to the program. However, families who locked in rates before July 2007 don't have to worry about the increases.
Under the current plan, universities that charge more than the tuition allowed by Florida Prepaid do not receive their full tuition from the program. The university system's board of governors voted to allow state colleges to collect the difference between actual tuition rates and the accepted Florida Prepaid tuition rates from the program.
"The university system will in fact be getting as much as three billion dollars over the next 24 years that Prepaid doesn't have to give them under the current arrangement, but the contract holder, not one dime more out of contract holders" said Board of Governors' Bill Edmonds.
The proposed increase comes amid enrollment numbers that are down 15 percent.
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