Once a student has decided that they are going to attend Florida Tech and is no longer considering other schools, it is time to get the process started with Florida Prepaid.
Funds paid into the Florida Prepaid College Program can be withdrawn and used for private institutions equal to the value of the prepaid plan(s) at the time of enrollment. The state determines the value of the plan at the beginning of each academic year, typically notifying schools in August. As each plan varies, specific questions regarding plan and/or how much your plan will pay can be directed to Florida Prepaid.
Students planning to attend Florida Tech must submit a Transfer Authorization Form before benefits will be paid to a private school. Transfer Authorizations may be submitted online by the Account Owner or the Beneficiary. Please log in to your account at myfloridaprepaid.com/my-account, choose the Plan Details tab and click on See Usage.
The Transfer Form will require you to select how Florida Prepaid will make payments to your school, either Restricted or Unrestricted. Since private schools have different tuition rates than in-state public schools, Florida Prepaid can either pay the equivalent of the in-state public school rate to your school for up to 15 credit hours enrolled or pay the actual invoiced amount, up to the entire value of the plan.
Please read the options carefully, as the Unrestricted payment option can deplete your plan at a much faster rate than a Restricted payment option, since it will be paying actual invoiced amounts rather than what would have been paid to a Florida public school.
Choosing between being Restricted or Unrestricted:
- "Restricted" - Florida Prepaid will be invoiced each semester based solely on enrollment, up to a limit of 15 credit hours per semester. This helps to ensure that the amount in the Florida Prepaid plan lasts for the full four years.
- "Unrestricted" - Florida Prepaid can be billed a specific dollar amount each semester until the plan is depleted. Florida Tech will need to be notified of the dollar amount each semester otherwise, will be invoiced like the restricted option.
Please send notification to Chuck: email@example.com if you plan to use Florida Prepaid, including the students ID number. The deadline for contacting us is the last "Drop at 100% Refund" date for that semester. See the Academic Calendar for dates.
Tuition Plan - A flat dollar amount is paid per credit hour for those that chose either the 4-Year Tuition Plan or for those that chose the 2+2-Year Tuition Plan.
Local Fees Plan – Covers an additional flat dollar amount per credit hour for those that chose the Local Fees Plan.
Dorm Fee Plan – Covers a flat amount, or the actual dorm rate for the semester, whichever is less. The dorm fee can only be processed if the student has a signed Florida Tech housing contract and is living on campus in one of the dorms; it cannot be processed if the student lives off campus and/or lives in one of the Florida Tech Fraternity/Sorority Houses.
For More Information
Account Management | L3Harris Commons Building, Room 134 | Monday-Friday, 8:30-5:00
Florida Tech | 150 W. University Blvd. | Melbourne, Florida 32901
Chuck Conerity, Student Financial Services | Phone: 321-674-7302| firstname.lastname@example.org
Florida Prepaid College Savings Plans | Phone: 800-552-4723 | Florida Prepaid