Florida’s Prepaid College Tuition Program has refunds ready for over 30,000 American families in an amount in excess of $200 million. During a particularly straining time, the program is eager to distribute unclaimed funds and possibly ease the financial stress families are undergoing during this time. 

Costs for secondary education have remained stagnant for the past six years; as a result of this, many families had paid off their plans early and are now owed a refund. Additionally, the prepaid program itself had decreased its pricing just last year. The average family who has yet to claim their prepaid funds can expect about $4,700.

Alternatively, those enrolled in the program can receive a refund but also transfer their balance to other children’s accounts or convert the funds into a savings account for other college necessities, like textbooks and devices and living costs. 

Those who do not yet have a Florida Prepaid College Tuition account will not have to pay the $50 application fee; the program has waived application expenses until Oct. 31. Open enrollment for the program begins on Feb. 1, 2022. Individuals have the option to sign up early, in which case they will be automatically enrolled come February.