HELP CENTER
2024 Price Reduction
2024 Price Reduction
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Why did the Florida Prepaid College Board reduce Prepaid Plan prices in 2024?
The Florida Prepaid College Board announced a price reduction in January 2024 due to years of lower-than-expected increases in tuition and fees. This allowed the Board to lower certain Prepaid Plan prices while still ensuring future college costs will be covered.
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Which Prepaid Plans are affected by the price reduction?
The price reduction applies to most Tuition, Local Fee, and Tuition Differential Fee (TDF) Plans, as well as Dormitory Plans, purchased in 2008 or later with a projected college enrollment year of 2024 or later. The coverage for these plans remains the same.
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How does the price reduction affect my remaining payments?
If you’re still making payments on your Prepaid Plan(s), your monthly payment amount has been automatically reduced to reflect the new lower price.
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Can I pay off my Prepaid Plan(s) early with the new lower price?
Yes, it’s recommended that you make a partial payoff to one or more plans. This can help you:
- Pay off your plan(s) earlier than expected.
- Reduce the overall finance charge and total plan cost.
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What if my Prepaid Plan is already paid in full?
If your Prepaid Plan is paid in full, you may now have funds available in My Wallet. You can:
- Transfer the funds to an Investment Plan.
- Request to withdraw the funds.
- Open a new Prepaid Plan for an eligible student.
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Do I need to take any action to benefit from the lower price?
No action is needed to benefit from the price reduction. If you have an outstanding balance, your monthly payments have already been adjusted. If your plan is paid in full, any available funds can be accessed through My Wallet.
Watch Our College Savings Series
Learn About a Prepaid Tuition 529 Plan
Learn about a Prepaid Dormitory 529 Plan
Learn about an Investment 529 Plan
