What are my options if my child receives a scholarship, grant, or tuition remission?
Unused Benefits may occur if the Beneficiary receives a Scholarship, grant, or tuition remission or graduates early from college. You may apply Unused Benefits to pay Qualified Higher Education Expenses. When Unused Benefits are used to pay Qualified Higher Education Expenses, the Prepaid College Trust will pay the amount it would have otherwise paid the Eligible Institution or the actual cost of the Qualified Higher Education Expenses, whichever is less. Unused Benefits are always available for a refund or reduced refund in accordance with Article VII. Additionally, Unused Benefits are not subject to the requirement that a Beneficiary be enrolled at least half-time.
