Top 5 Florida Prepaid College Plans Myths Busted

(Last Updated On: )

Here are the Top 5 Florida Prepaid College Plans Myths Busted! Learn more about Florida Prepaid Open Enrollment. This post is sponsored by Florida Prepaid College Plans, through my role as a Believer Blogger. All thoughts are my own.

Top 5 Florida Prepaid College Plans Myths Busted

We have been Florida Prepaid College Plan customers for over 13 years now, and over the years I have been asked numerous questions about the different plans and what the benefits are.  I have also been told numerous “myths” throughout the years, so I decided I would bust those myths for you in hopes to answer any questions you may have as well.

These are the Top 5 Florida Prepaid College Plans Myths I have heard throughout the years, of course I will also share with you the facts to bust those myths!

#1 If your child doesn’t go to college you lose your money

Absolutely not! You will never lose any of the money that you have paid into your Florida Prepaid College Plan. If your child chooses not to attend college, you can request a refund or change the beneficiary of your plan to another student.  Florida Prepaid Plans is one investment that you can definitely count on, as they are guaranteed by the state of Florida.

#2 Your child MUST go to a Florida college or university if you have a Florida Prepaid College Plan

While Florida Prepaid Plans are designed with Florida schools in mind, you can use your Florida Prepaid College Plan at colleges and universities around the country. The plan will pay out what it would cost for a Florida University or College. Florida Prepaid College Plans are fully guaranteed by the state of Florida, so you never lose the money you put in even if your child doesn’t go to a Florida college or university. You can see a full list of the colleges that accept Florida Prepaid Plans and grab the free printable.

#3 You can’t transfer your Prepaid Plan funds to a sibling or other family member

Yes you can transfer Florida Prepaid Plan funds to a sibling!  I know when making an investment you want to make sure it will be used and you won’t lose the money you invested, so you will be happy to know that you can indeed transfer the money you paid into your Florida Prepaid College Plan to someone else. You may be wondering what if your child decides not to go to college or if they get a scholarship or maybe they decide to go to a 2 year school and you paid for a 4 Year Plan. Well, don’t worry, the money you have invested is guaranteed and the benefits can indeed be transferred to a sibling or another family member.

#4 There isn’t a Prepaid Plan that would fit into my budget

Florida Prepaid College Plans has several Prepaid Plans and the different options are designed to fit within any budget. In fact, the Florida Prepaid College Plan prices are lower now than they have been in 5 years!  Plans start as low as $34/month. 

#5 I am hoping that my child gets a scholarship, so we don’t need a Florida Prepaid College Plan

Ah, yes, isn’t this every parents dream?  I know it’s mine!  Both of my kids have Florida Prepaid Plans and I am still hoping that they get scholarships.  The good news is that you can use your Prepaid College Plan along with a scholarship to help pay any school expenses that may not be covered such as housing, books, etc. You can also request a refund if no additional funds are needed, or you can use that money to pay for professional or graduate schools nationwide or transfer it to a sibling.

You never lose a penny that you have paid into the Florida Prepaid College Savings Plan.  That’s why I can honestly say that purchasing plans for our children was the absolute best financial decision we have ever made.

When is Florida Prepaid Open Enrollment?

Open Enrollment is going on right now and ends on April 30th.

If you have questions additional questions about Florida Prepaid, here are the Florida Prepaid College Plan FAQs

Did I bust one of the myths you believed about Florida Prepaid College Plans?  I hope so!  If you have any additional questions, don’t hesitate to reach out to me, I am happy to help in any way I can.

You can also reach out to Florida Prepaid College Plans with any questions regarding Prepaid Plans, the Florida Prepaid College Plans customer service number is 1-800-552-4723.

Learn more about Florida Prepaid College Plans online and feel free to follow Florida Prepaid College Plans on Facebook, Twitter, and YouTube to stay up to date with information on Open Enrollment but get tips on college and more.

Be sure to follow Food Wine Sunshine on Facebook, Twitter, Pinterest, and Instagram for more helpful tips, things to do in Florida, and family fun.