Cancellation - Other Options

Did you know that there are alternatives to cancelling your Florida Prepaid College Plan?

1. You have ten years from the projected enrollment year of the original beneficiary to use the prepaid plan. An extension of benefits may be requested one year before expiration; however, the Florida Prepaid College Board does not guarantee approval of an extension request. Factors the Florida Prepaid College Board considers include, but are not limited to, the time spent by a beneficiary as an active duty member of the U.S. Armed Services, prior extensions, recent plan usage, and medical hardships.
2. You may keep your plan that includes coverage for Registration Fees and cancel any associated supplemental plan(s).
3. You may be eligible to downgrade to a different plan type or payment option. (Please contact our customer service department at 1-800-552-GRAD (4723), Monday – Friday 8am to 6pm EST to discuss your downgrade options.)
4. You may transfer your plan to a member of the family of the current beneficiary. Change of Beneficiary Form
5. You may still receive benefits from your plan if the beneficiary receives a scholarship. Scholarship refunds are issued on a semester by semester basis, and reimbursement requests are required each semester. Scholarship Refund Form
6. You may still receive benefits from your university dormitory plan if the beneficiary receives an unavailable dormitory letter from the university. For an unavailable dormitory refund, you must submit
   • A signed letter
   • A letter from the University stating that no dorm room is available
   • Copy of the beneficiary’s class schedule verifying that the beneficiary is attending college
   • Copy of the lease agreement (for refund for Spring semester only)
7. You may use your plan at any eligible education institution as defined in s. 529 of the Internal Revenue Code. To transfer the benefits of you plan to a Florida private or out-of-state school, you or the beneficiary must complete and mail the Transfer Form.

Please be advised of your options before cancelling your Florida Prepaid College Plan. After reviewing your options please select one of the following: