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Florida Prepaid College Program Readies Refunds, Lowers Rates
September 5, 2014
Carrying out a new law aimed at holding down higher-education costs, the Florida Prepaid College Board on Thursday approved lowering the program’s prices and refunding nearly $200 million to about 18,000 families, according to a news release issued by the board.
The announcement came as prices were set for the 2014-15 open-enrollment period, which starts October 15. The program, formally known as the Stanley G. Tate Florida Prepaid College Program, is designed to allow families to pay years in advance and lock in the costs of sending students to state colleges or universities.
Lawmakers and Gov. Rick Scott this spring approved a measure that included steps such as reinstituting a cap on the fund’s payments to colleges and universities and rolling back a “differential tuition” law, which allowed university tuition increases of as much as 15 percent a year.
The prepaid program had to take into account the possibility of differential increases, which are now barred at most universities and would be allowed at 6 percent for the University of Florida and Florida State University. Prices for newly purchased plans will decrease as much as 50 percent from last year, according to the prepaid board. Families that purchased plans in recent years at higher prices will see their payments reduced or will receive refunds if they are paid in full.
by The News Service of Florida
Comments
6 Responses to “Florida Prepaid College Program Readies Refunds, Lowers Rates”
Can I child ( over 25) that decided not to continue education request a refund of the money left without the Father approval
Who do we contact to see if there is a refund available. I bought two in the early 90’s and would like to know if there is a refund due.
how does this affect students that are using prepaid now. We paid since 1995 for my daughters college 4 year university plan and she is still using it. Are we entitled to a refund as the article stated?
I bought the 4 years university plan, and my daughter studied 2 years college and 2 year university and got Florida Bright Future. Means she still have some credits available to be used. Will she get some refund from 2010 to 2014?
I paid for a four year university program. My son wound up going to a Jr. college then finishing up at USF. I thought we would get a large refund since there is a big difference between the two and four year colleges. Yet we only received a little over three hundred. How could there only be a difference of that amount between a Jr. college and a 4 year university.
how does this affect students that are using prepaid now. We paid since 1995 for my daughters college 4 year university plan and she is still using it. Are we entitled to a refund as the article stated?