Today I’m sharing the Top 5 Myths About Florida Prepaid College Plans busted so your child can live their fairy tale dreams. This post is sponsored by the Florida Prepaid College Board as a my role as Believer Blogger. All opinions are my own
Top 5 Myths About Florida Prepaid College Plans
We grow up believing fairy tales to be true. These days, my toddler believes that when she puts on a princess dress, she immediately becomes the princess. Dancing, twirling, and blowing kisses, this little girl transforms into royalty in every possible way. In my mind, she is a princess. There’s no way that I want to discourage those fairy tale dreams.
In a way, we all grow up believing certain myths to be true. And when it comes to choosing the right college plans for my kids, I definitely had some preconceived beliefs. As we close in on the last few weeks of Open Enrollment, I want to take the time to dispel the Top 5 Myths About Florida Prepaid College Plans so you can make the best possible education plan for your children. The princes and princesses of your life can still have their fairy tale dreams come true.
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I can’t use Florida Prepaid at colleges outside of Florida
It can be deceiving with a name like Florida Prepaid. But Florida Prepaid College Plans while designed to be used at a Florida College or University can be used nationwide. Public, private, in-state or out-of-state, the same funds can be used towards the college of your choice.
My investment disappears if my child doesn’t attend college or gets a scholarship
Every Florida Prepaid College Plan is GUARANTEED by the State of Florida, so you’ll never lose what you have invested. There’s lots of different options for your investment if your child decides not to attend college or receives a scholarship. You can transfer your plan to an eligible family member. You can also cancel your plan for a full refund of what you paid for. If your child receives a scholarship, you’ll actually receive a full refund for the entire plan amount (beyond what you paid for)!
I lose my Florida Prepaid College Plan if I move out of Florida
It’s true that you need to live in Florida to qualify to sign up for a Florida Prepaid plan. However, it’s NOT required to stay in state to keep your plan. If you and/or your child move out of state, your Florida Prepaid College Plan will continue as if you never left. And if your child decides to come back to Florida for college, they’ll still be considered an in-state student.
My child has to use their Florida Prepaid College Plan as soon as they graduate high school
Worried about the ticking clock when your child graduates? The future can definitely be undecided as you and your child figure out the best path for their education. Your child will have up to 10 years from their projected enrollment year selected on their application to use their Florida Prepaid Plan. And don’t forget that you can also transfer or request a full refund as well!
Having a Florida Prepaid College Plan gives me more to worry about
Has your eyes been widened? I know mine has. In fact after reading through these myths with my husband, that’s when we decided to get Florida Prepaid for my son and now my daughter. That’s right, both of my children now have their college educations paid for thanks to Florida Prepaid. I sleep better at night knowing that I don’t have to worry about my kids’ futures. I am ensuring the best possible college educations for them right now.
Now through the end February 2016, you can provide the best possible futures for your children as well. Through 2/29, sign up for a Florida Prepaid College Plan through the Open Enrollment period of 2015, to lock in your low rate. And with even more options and payment plans for this year, there’s a plan for every family budget. Get a special gift when you use promo code BLOG1516 at checkout too! But hurry, prices may rise after February. Get your Florida Prepaid College Plan today.
No matter what college they choose, no matter what state we may end up, no matter what life may throw at our family, I know that my kids can have the fairy tale dreams that they want to achieve. There’s no myths in my kids’ futures, only hope. I’m believing in Florida Prepaid College Plans.
How can Florida Prepaid College Plans help your child reach their fairy tale dreams?
Got Florida Prepaid questions? We have answers! Check out these popular posts for more FAQ:
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BRANDI DAWN says
This is a very interested concept. I will have to see if we have something similar in my state!
Robin Masshole mommy says
Bag sounds like a Great plan. Almost makes me wish we lived in FL ?
MJ. L says
I really need to look into this for my children. I am in FL and this sounds great.
Catherine S says
This is really great information. I wish I had looked into this when my son was little.
Stacie @ Divine Lifestyle says
This is great information. I love that the plan is so safe, as well. I think it’s great that you can get back what you paid in if things don’t work out.
Great information especially for those living in Florida. All parents need to look into plans in their state. Thanks for sharing.
valmg @ Mom Knows It All says
I hadn’t heard of a prepaid college pan before. A friend of ours has a teen daughter moving to Florida because she said the college fees there are far more reasonable.
Ora Lee Gurr says
This is a great way to put paid to myths that keep people from investing in quality educational plans for the kids. Nevada has a similar plan.
nicole escat says
This really such a great information. How I wish I live in FL. 🙂 Thanks for sharing this.
Your daughter is simply adorable! That’s a great benefit that you don’t have to use the plan at a Florida school if your child goes elsewhere.
We have a college savings plan, but I’ll be honest, I don’t know a ton about it. I need to do some more research to make sure it’s got great security like the Florida plan.
This sounds like such a great program. I wish we had that here!
Paula Kiger (Big Green Pen) says
Love your pictures! Great being a fellow Believer Blogger with you!
Thanks so much, Paula!
sounds like a great plan
Your daughter is always the cutest model! She is gonna be so grateful to you when she goes to college…I wish my parents had a pre-paid college plan for me.
Some good points however God help you when you go to take out the money to pay for college. Their customer service people give contradicting messages . I have been trying to withdraw the money and trying to get pre-paid to send a check to my daughters out of state university in a timely manner and I just kept getting bounced around. Start early when you go to withdraw the funds because they move at a snails pace. Literally they send the check snail mail not electronically to your child’s University. My check is going to miss the deadline and now my husband and I are going to have to put her tuition on a credit card. They also told me they use a third party to disburse the checks and they cannot tell me where the hell the check is right now. So if you’re willing to put up with crappy customer service and wonder when your child’s tuition might get paid I would recommend using another plan. I am literally at a point where I am seriously considering transferring all of our money out of the Florida Prepaid to another plan that offers better customer service. We been saving for three kids for 18 years, so it is quite a bit of money. Good luck
Sorry but I also thought you locked in future tuition and today’s rates but that is not the case. The Florida Prepaid charges a differential fee making the credit per hour ~$235 instead of the ~$100-110 that it costs today. You’re better off with a 529 from a reputable financial institution.
What is a “qualified family member” in terms or transferring it if the designated beneficiary doesn’t go to college? We have a plan for one of my nieces but can I transfer it to a nice or nephew from another family member (not siblings) if she doesn’t use it?
Hi Lola! Just checked with the Florida Prepaid team and they said that the plan does include “a son or daughter of a brother or sister”
Thank you son much for looking into that!
As long as you ‘gift’ it. We have twin girls and one is now thinking she does not want to attend college – we can not transfer her funds to her twin sister. It has to go to someone else not on the account.