How will the plan affect the beneficiarys eligibility for financial aid?
As a result of the Deficit Reduction Act of 2005, 529 plans, such as the Florida Prepaid College Plan, will be treated as an asset of the account owner for federal aid purposes effective July 1, 2006. During their junior year in high school, students should contact the financial aid office of any college they plan to attend for more information on the precise impact of the Plan on need-based financial aid.
