This post is sponsored by Florida Prepaid through Bloggin’ Mamas. Opinions are 100% my own.
I have been talking about the Florida Prepaid College program for awhile now. I just LOVE it since my parents used it to pay for my college. It was so easy to use and I graduated with ZERO student loans which was a huge bonus!
However, since it is called the Florida Prepaid program a lot of people think that if you get this plan for your child, that they HAVE to go to a Florida college, or you will lose your money. That is NOT TRUE. I can’t tell you how many people tell me they have been hesitant to look into the program, since they assumed that was the case. You can take the amount you have put into the plan and use it at any college across the country!
I have pulled the exact wording for you from the Florida Prepaid website:
Myth: I can’t use my prepaid plan at an out-of-state or private college.
Facts: Not true! It is true that prepaid plans are designed to be used at Florida Colleges or State Universities, however, the value of the plans can be used at other schools nationwide. Whether you pick a public, private, in-state or out-of-state school we’ll pay the same as we’d pay a Florida School.
Here are 2 other common myths:
Myth: If I get a scholarship I can’t use my prepaid plan.
Facts: False! Prepaid plans can work along with any scholarships you earn to make sure as much of your educational costs are covered as possible. For example, if you qualify for Bright Futures, in most cases, your scholarship will be applied then funds from your Prepaid Plan will be applied. You can use the remaining funds for other school costs, like books. You can also receive a refund equal to what would have been paid to the school.
Myth: To use my prepaid plan I have to go to college right after I graduate.
Facts: Again, totally false. Your Prepaid Plan is good for 10 years after the projected year of enrollment included in your prepaid application. So you want to take a year off to work? Or maybe you want to backpack through Europe? Go for it! Just come back this decade.
There you go, 3 myths DEBUNKED! Now head on over to the Florida Prepaid website for more information. Open enrollment runs through February 28th and enrollment won’t reopen until the next session at the end of the year! Don’t forget to use the code BLOG1617 to get 50 percent off your application fee – a savings of $25.
Thank you for sharing the discount code. I always find it helpful when bloggers share coupon codes like this!
No problem! Have a great weekend!
I wish I knew about something like this in our area. I’ll have to do some research:)
many states have similar programs so it is worth researching 🙂
I had a Florida prepaid and LOVED it as a college student. I had that and 100% bright futures, so I ended up with enough money left over to help pay for some of grad school! My parents also did 2 years of dorms, but I only stayed in them for one year, and we were able to get that money back which was nice!
Rachel | The Confused Millennial
Isnt it the BEST?! All my friends were jealous of me! ha!
This is really useful information. Florida Prepaid sounds like a great program. Every should offer a similar service so our kids don’t need to go into debt getting their college degrees.
I know, my husband had HORRIBLE debt, in fact we JUST paid his loans off last year.
This sounds like an amazing plan. Makes me wonder if there is anything similar to this in Indiana. Thanks for sharing <3
I am not sure, but any little bit helps to put away early! 😉
Amazing – I wish our area had a plan like this. It’s brilliant!
We are very lucky to have it, esp since Florida schools are so popular!
This is a great informational post ! We have a similar program in our state and i really need to set it up!
Yes, even a small contribution each year can add up!
Interesting! We’ve been looking into New York’s 529 savings plans for our boys, but I hadn’t heard about using it in other states. Thanks for the info!
You are welcome! have a wonderful weekend!
I know so many people in FL that use this!!! Makes me jealous that this doesn’t exist in other states! It’s genius!
Yeah I loved that my parents got it for me. It is so easy to use!
I spent a lot of time to find something similar to this