Ask Doug: Florida prepaid tuition

TAMPA - Most prepaid college tuition funds are in the red for reasons you might expect. A tough stock market is at odds with the rising cost of tuition, but here in Florida, the prepaid fund is in much better shape than other places.

There's nearly $9-billion in the fund, and it's extremely popular with parents. In fact, only Florida and Colorado have prepaid college plans that are in the black.

The other 16 states managing prepaid college funds are running an "actuarial deficit." That means that they don't have enough money to handle all their future obligations.

Of course, not all the news regarding Florida's prepaid tuition plan is good. You've probably heard that if you aren't enrolled already; plan to write a really big check. The lump sum payment for a newborn last year was only about $4,600. This year, it's $19,000.

The enrollment period in Florida started in October and runs until January 31. The web site is www.myfloridaprepaid.com.