Tuition is just one part of the cost for a college education. There are other expenses, like late-night lattes, that are not be covered by our Prepaid Plans. Though we may not be able to help you fund their need for caffeine, there are a few expenses we can help you with. You may be eligible for one or more of the following supplemental plans.
Ok, so the Florida 529 Savings Plan isn’t technically a supplemental plan—that doesn’t mean it can’t be used as one. Establishing a Florida 529 Savings Plan in addition to your Florida Prepaid Plan is an excellent way to save for costs beyond tuition and fees. In fact, the funds from your Florida 529 Savings Plan can be used for an incredibly wide range of college-related expenses, including books, housing, food and much more.
Do you want your child to have the full college experience, complete with dorm living? Well, as you may know, even living in a dorm can be a major expense. This plan covers costs for a standard, double-occupancy dormitory room at any State University. You can purchase up to four years in one-year increments. Dorm offerings vary by university and are assigned on a first-come, first-serve basis. The plan offers three payment options: monthly, 55 months or lump sum.
All 28 Florida Colleges and 12 State Universities charge mandatory fees, known as Local Fees. Each State University also charges a mandatory Tuition Differential Fee. Prior to the 2010-2011 Open Enrollment Period, the Florida Prepaid College Board sold separate Prepaid Plans to cover Tuition, Local Fees and the Tuition Differential Fee individually. Florida Prepaid College Plans purchased during the 2010-2011 Open Enrollment Period or later include the cost of these mandatory fees.
Local Fees cover the costs for on-campus expenses of activities and services, health, and athletic fees. These fees are mandatory, even if the student does not use the services. The Local Fees Plan must match the level of the existing Tuition Plan. Three payment options are available: monthly, 55 months or lump sum.
All State Universities charge the Tuition Differential Fee to cover certain additional costs. The Tuition Differential Fee was approved by the 2007 Florida Legislature. The Tuition Differential Fee Plan must match the level of the existing Tuition Plan. Three payment options are available: monthly, 55 months or lump sum.
All 4-Year University Tuition Plans and 2 + 2 Tuition Plans purchased during the 2006-2007 Open Enrollment Period or earlier are exempt from the Tuition Differential Fee. Between the 2007-2008 and 2009-2010 Open Enrollment Periods, the Florida Prepaid College Board offered Prepaid Plans to cover Tuition, Local Fees, and Tuition Differential Fee separately. Coverage of each type of fee depends on which Prepaid Plan(s) were purchased. Login to your account for information on your specific plan(s) and which Fee Plan, if any, applies to you.
If you have enrolled in a Prepaid Plan and have selected a monthly payment option, you can now add Optional Life Insurance. This Insurance is a dedicated-purpose policy that will cover any outstanding balance on your Prepaid Plan in the event of your death. Learn more about the Optional Life Insurance.