What are my options if a child who has a contract with the Florida Prepaid College Plan decides to drop out of high school?
There are least three alternatives. First, the account can be maintained for later use by the beneficiary, since beneficiaries have 10 years from their projected postsecondary enrollment date to use the Plan benefits. If the beneficiary completes a diploma or its equivalent, the Plan is still available for postsecondary use. Second, the account may be cancelled and a refund may be requested of monies paid into the Florida Prepaid College Plan. Third, the contract may be transferred to a family member of the original beneficiary if he or she drops out of high school.
