The Florida Prepaid College Plan remains financially sound and is guaranteed by the state of Florida. With a Prepaid Plan, families cannot lose their investment. To qualify for a plan, the child or the child’s parent/guardian must be a Florida resident. Parents, grandparents and friends can purchase a plan.
How do I transfer my Florida Prepaid to another child?
offer To transfer the benefits of a prepaid plan, the account owner or beneficiary must complete and mail this form to: Florida Prepaid College Plan, PO Box 6567, Tallahassee, FL 32314-6567. Or FAX to: 850-309-1766. Please allow up to four weeks for processing.
Can you start Florida Prepaid before child is born?
Can I open a Florida 529 Savings Plan for an unborn student? A parent planning for children may open a Florida 529 Savings Plan for himself or herself and then transfer some or all of the funds to the child after birth.
Can you transfer Florida Prepaid to another person?
Yes. Florida 529 Savings Plan ownership can be transferred at any time to an individual 18 years of age or older and a U.S. citizen or legal U.S. resident.
Can I cash in my Florida Prepaid College Fund?
Yes. You may cancel your Florida 529 Savings Plan and withdraw funds at any time and for any reason. Please keep in mind, any earnings that are not used for Qualified Higher Education Expenses are subject to federal and, if applicable, state income taxes.
Can Florida Prepaid be refunded?
Yes, you may cancel your Florida Prepaid Plan at any time and for any reason. You may request a refund equal to the payments that you have made, less any fees, usage and refunds.
How does a prepaid college plan work in Florida?
If your student attends an out-of-state college or private college, the plan will pay the same amount as it would pay at a public college or university in Florida. Prepaid Plans also work with scholarships, and you can use them together to cover even more college expenses.
Can you add a dormitory to a Florida Prepaid plan?
You may add dormitory housing coverage to a Florida Prepaid Plan with university tuition coverage at the time you enroll, or during a later enrollment period. A maximum of two semesters of dormitory fees may be prepaid for each year of State University coverage.
Can you use Florida Prepaid money for any state?
You can use the money to pay for college in any state, not just Florida, and again you will never lose a single penny that you have paid in to the plan. If you still have questions about the Florida Prepaid College Plan Enrollment dates check out this article on Florida Prepaid Open Enrollment.
Is there a 529 plan in Florida for prepaid?
Over the last 30 years, Florida Prepaid has helped more than one million families save for college. We offer two types of 529 plans that allow you to prepare for college — Prepaid and Savings. Choose one or both. Purchase a guaranteed plan with fixed payment options to lock in future college costs for less.
