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Find out exactly What Can Florida 529 Prepaid College Plans Funds Be Used For. Use the Florida Prepaid promo code TRACY2021 to save on your application fee. This post is sponsored by Florida Prepaid College Plans, through my role as a Believer Blogger. All thoughts are my own.
What Can Florida 529 Prepaid College Plans Funds Be Used For?
When researching and planning to open a Florida 529 Prepaid College Plan, one of the things you may be researching is what exactly can the prepaid funds be used for. Florida 529 Prepaid College Plans are a cost effective and proactive way of locking in the future cost of tuition. So, of course Florida 529 Prepaid College Plans can be used for college tuition. The Plans are designed to work at Florida colleges and universities so when your child is ready for college, the Plan pays the costs covered under your plan type, even if the cost of college is higher than anticipated when your plan prices were set.
But what if your child gets a scholarship or Bright Futures and some (or all!) of their tuition is covered?
First of all, CONGRATULATIONS! Getting a scholarship or Bright Futures is a huge accomplishment and deserves a WOOHOO!
But what about those Florida 529 Prepaid College Plan funds? How can Bright Futures and scholarships work with partnership with your Florida 529 College Prepaid Plan funds?
Scholarships funds, along with benefits payable from your Florida Prepaid Plan, can both be applied to your student’s account. In most situations the college/university will bill Florida Prepaid first, and then any scholarships or Bright Futures awards can help cover the remaining expenses that are not covered under the Plan (such as books, transportation or lab fees).
The remaining balance of Bright Futures will be deposited to the student’s bank account, and those funds could be used towards additional expenses like housing.
The more college expenses that are covered, the more probable your child will graduate college debt-free. As parents we all worry about our kids graduating college with a lot of debt, I know I don’t want my kids leaving college with a large amount of student loans. Which is why both of my kids have Florida 529 Prepaid College Plans. They are also studying hard to hopefully receive scholarships as well.
What Can Florida 529 Prepaid College Plan Funds Be Used For?
- School-related Fees
If your child is granted a scholarship and doesn’t need all (or any) of the Florida Prepaid Plan funds, you can request a refund. You can also use your Florida Prepaid College Plan funds towards the cost of graduate school or transfer the funds to a family member.
Florida 529 Prepaid College Plans are a risk-free way that over 1 million Florida families have started saving for their child’s future education. We are one of those 1 million families! I couldn’t be more excited to see what the future holds for my kids.
When you are ready and have about 15 minutes, you can get started with Florida Prepaid here. Use code TRACY2021 to save on your enrollment fee.
So, what can Florida 529 Prepaid College Plan funds be used for? Tuition and school-related fees to help your child graduate college with as little debt as possible.
Still have questions about Florida 529 Prepaid College Plans? Be sure to check out these Frequently Asked Questions. And don’t hesitate to reach out to me, we opened our first Plan about 16 years ago!
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. You can also give the Florida Prepaid College Board Customer Service team a call, the Florida Prepaid College Board phone number is 1-800-552-4723.
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