How Do I Get a Refund From My Florida Prepaid College Plan?

With the Florida Prepaid College Plan, parents can sock away money a little bit at a time for a child's future education. If you have a kid that will not be attending college or if you no longer want to save up the money, you can cancel your plan at any time and get a refund. The money saved up in the plan is only available for 10 years from the projected college entry date or it is forfeited to the state. So do not wait too long to request your refund.

Things You'll Need

• Cancellation form

Instructions

1. Download the Florida Prepaid College Plan's Cancellation Form (see Resources for link). Or, visit myfloridaprepaid.com and move your mouse to the “Downloads” link to open up the drop-down menu. Select “Prepaid Plan Forms.” Click on “Cancellation Form” and then scroll down to the bottom of the page. Click on “Continue to Cancellation Form" to open the form in Adobe Acrobat Reader or save the PDF to your computer.

2. Print out the form and complete it but do not sign it yet.

3. Take the form and the beneficiary (the potential student) to a notary. If you do not know where any notaries are, you can typically find one at a FedEx Office (formerly Kinko's), a UPS Store or your bank. Both you and the beneficiary must sign the form in the presence of a notary. The notary must stamp for each signature.

4. Send the completed form with the notary signature and stamps to:
   Florida Prepaid College Board
   PO Box 6567
   Tallahassee, FL 32314-6567

5. Call [phone] to check on the status of your refund.

Tips & Warnings

• Any fees due on the account, such as late fees, will be deducted from the refund.

• Refunds are sent to the account owner, not the beneficiary, within 45 days.

• A cancellation fee of 50 percent of what you have paid in, up to a maximum of $50, will be taken from your refund.

References

• My Florida Prepaid: Voluntary Cancellation Form

Resources

• My Florida Prepaid: Cancellation Form (PDF)