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.