STATE BOARD OF ADMINISTRATION
Florida Prepaid College BoardNOTICE OF 2010-2011 FLORIDA PREPAID COLLEGE PLAN ADVANCE PAYMENT CONTRACT PRICES
Notice of 2010-2011 Contract Filing And Payment Due Dates For The Florida Prepaid College Plan
The Florida Prepaid College Board hereby gives notice that the enrollment period and contract filing dates for the 2010-2011 year are as follows for the Florida Prepaid College Plan:
October 18, 2010 – Beginning of 2010-2011 enrollment period. January 31, 2011 – Last day of 2010-2011 enrollment period.
March 31, 2011 – Last day of contract change period.
Purchasers of Florida Prepaid College Plan advance payment contracts must have their application postmarked on or before January 31, 2011. All applications must be submitted to the following address: Florida Prepaid College Board, P. O. Box 6448, Tallahassee, Florida 32314-6448.
Applications for the Florida Prepaid College Plan must include one of the following non-refundable application fees:
- $80, if the application is for the Florida Prepaid College Plan and the Florida College Investment Plan.
- $50, if the application is only for the Florida Prepaid College Plan.
- $30, if the purchaser named on the application has a Florida College Investment Plan for the same beneficiary.
Payments for the Florida Prepaid College Plan
For Florida Prepaid College Plan applications received during the 2010-2011 enrollment period, payments may be made under any one of the following schedules:
(a)Lump-sum payments due in full on April 20, 2011;
(b)Monthly payments, beginning on April 20, 2011, and due on the 20th of each and every month thereafter until October of the anticipated enrollment year of the qualified beneficiary, as indicated on the application; or
(c)Fifty-five (55) month payment option beginning on April 20, 2011, and due on the 20th of each and every month thereafter for 55 continuous months.
An implied interest rate of 3.90 percent (weighted average using spot yield curve based on the July 30, 2010, U.S. Treasury curve) for the purchasers of the Florida Prepaid College Plan advance payment contracts during the 2010-2011 enrollment period has been calculated for the installment payment plans indicated above.
Persons whose substantial interests are affected by the 2010-2011 notice on contract filing and payment due dates may request an administrative hearing within 21 days of publication of this notice pursuant to Chapter 120, F.S.
