It’s official. My children now have no excuse for not seeking a college education. We have written our final check to the Florida Prepaid College Plan, and have just received the joy-inducing letter that states, “Your plan is paid in full.”

The Florida Prepaid College Plan is a unique program that allows Florida residents to pay for tomorrow’s tuition at today’s rates. But this is no ordinary college saving program. Our investment is financially guaranteed by the state of Florida. Here are some of the wonderful benefits of the program:

• Provided our children attend a state university in Florida, we will never have to pay another dime for tuition, no matter how much tuition rises between now and then.
• The benefits are transferable to nearly any public or private college or university in the country at the equivalent of Florida’s in-state tuition rates at the time of transfer. In such a case we would, of course, be responsible for any difference not covered by the plan.
• We will receive an equivalent refund should either of our children be awarded a scholarship that covers all or part of their tuition.
• We will get a full refund of our investment should either of our children opt against college. Which will never be presented to them as an option, making this a moot point.

It feels good to know that Maia and Noah’s educational futures are secure. But that doesn’t mean we’re done saving by a long shot. We’ve got big plans for our kids, and we want to make sure we have the means to make up the difference in value should, say, the Ivy Leagues come calling. Hey, it could happen!