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PREPAID COLLEGE PROGRAM ENROLLMENT PERIOD ENDS JAN. 14

 TALLAHASSEE, Fla., Jan. 11 /PRNewswire/ -- The Florida Prepaid College Program will end its 1993-94 enrollment period for prepaid college contracts on Friday, Jan. 14. Applications are available at all First Union branches in Florida. Completed applications must be postmarked or returned to First Union branches by Friday.
 Prepaid college contracts guarantee the cost of Florida's college tuition and dormitory rates. The state of Florida financially guarantees payment of the contracted state tuition and dormitory fees at the time of college enrollment.
 The program has been very successful this year. From the start of the program on Oct. 18 through Dec. 31, applications had increased by 30 percent over the previous year.
 This year, the Program offers a new out-of-state option which may have contributed to its increased popularity. If a student decides to enroll in an out-of-state college or university, the program will transfer either an amount equaling the value of state tuition at the time of college enrollment or the original purchase price plus 5 percent interest, whichever is less.
 Since the Program began in 1988, over 215,000 contracts have been sold, making it the most successful program of its kind in the United States.
 The Program allows parents, grandparents, relatives and others to prepay a child's tuition at one of Florida's nine state universities or 28 community colleges at predetermined rates. Dormitory plans are also available with the four-year university plan and are available to beneficiaries in the eighth grade or lower.
 Next year's application period for the Florida Prepaid College Program will begin on Oct. 17, 1994.
 First Union National Bank of Florida is the exclusive marketing and distribution agent for the Program. Applications, brochures and information about the Program can be obtained at any First Union office in Florida. Anyone needing additional information may call 800-552-GRAD, prompt 1.
 -0- 1/11/94
 /CONTACT: Sharon G. Young, information specialist, Florida Prepaid College Program, 904-488-8514/


CO: Florida Prepaid College Program; First Union National Bank of
 Florida ST: Florida IN: FIN SU:


AW-DP -- FL016 -- 1159 01/11/94 17:21 EST
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Date:Jan 11, 1994
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