You’ve reached the Cancellation Page. This is the part of our site where you’ll learn how to cancel your Prepaid Plan or, it’s our hope, why you don’t really need to.
You made a great decision when you started your Florida Prepaid College Plan or Florida 529 Savings Plan, and you’ve worked hard to make payments and contribute to that plan along the way. That’s why we want to see you hold on to the valuable benefits you’re eligible for if it’s at all possible. Please read through this list of available alternatives before moving forward with the cancellation process.
Has your child’s entry into college been delayed?
Don’t worry, you have 10 years from the projected enrollment year selected on the application to use the Prepaid Plan. If your child will need even more time than that, keep in mind that time spent by the student as an active duty member of the U.S. Armed Services while named as the Beneficiary of the Prepaid Plan will be added to the benefit period once evidence of military service is provided to the Board. Additional extensions may be awarded as well, but are not guaranteed. If your child has an extenuating circumstance (such as a medical issue), contact us at 1.800.552.GRAD to discuss your specific situation.
Have you found your plan too difficult to afford?
We’re aware that our customers’ financial situations may change during the time they hold a plan. If the plan you signed up for has proven to be too expensive, you may be eligible to downgrade to a different plan type and/or payment option in order to protect the value you’ve already gained. Please contact our customer service department at 1.800.552.GRAD to discuss your downgrade options.
Is your child unable to use the plan, or no longer in need of it?
If your child cannot use his/her plan for some reason or you no longer need it (say, you won the Florida Lottery), you can still pass on the value of the plan to a member of the family of the current Beneficiary. The new Beneficiary must have a projected matriculation year, the year the student will enter college, which is within the benefit period of the original Beneficiary. Change of Beneficiary Form
Has your child received a scholarship?
Congratulations! You may not need your plan for tuition & fees (or you may only need part of it), but did you know you can still receive benefits from your plan if the Beneficiary receives a scholarship? Scholarship refunds must be requested on a semester-by-semester basis. Scholarship Refund Form
Did your child choose a private university, or a public school in another state?
Our plans may be designed for use in Florida, but they’re surprisingly flexible. 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 your plan to a Florida private or out-of-state school, you or the Beneficiary must complete and mail the Transfer Form.
Was a dorm room unavailable at your child’s university?
Dorms are hard to come by sometimes, especially since there are only enough rooms for a fraction of each school’s total enrollment. 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 of the Spring semester only)
Please consider the options above before cancelling your Florida Prepaid College Plan. If you’re still certain that you’d like to cancel, use the Voluntary Cancellation Form