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Content Overview

Understanding Florida Prepaid College

  1. What is the Florida Prepaid College Plan Voluntary Cancellation Form?

    This form is used by account owners to cancel their Florida Prepaid College Plan. It requires notarized signatures from the account owner and, in certain cases, the survivor. The form outlines the steps and requirements for cancellation.

  2. What information do I need to provide on the form?

    You will need to include your plan number, account owner name, beneficiary name, and daytime telephone number. Additionally, you must select a cancellation reason from the provided list.

  3. What are the requirements for notarized signatures?

    All signatures must be original and notarized. Faxed or photocopied notarized signatures will not be accepted. The notary must properly complete and sign the form, date it, and print the names of the account owner and survivor in the appropriate sections. Each signature requires a separate notary stamp.

  4. How will my refund be processed after cancellation?

    Once your plan is cancelled, you will receive a refund of the total payments made, minus any fees. If your plan has been held for less than two years, a cancellation fee may apply. Refunds are typically mailed within 45 days to the address on file.

  5. What happens if I need to update my address?

    If you need to update your address, you must complete a Change of Address Form. This form must accompany the cancellation request if you want the address change to be processed simultaneously. The account owner's signature is required for this update.

  6. What if I decide not to cancel my plan?

    If you choose not to cancel your plan, you can simply ignore this form and continue making your monthly payments as usual.

  7. How can I contact customer service for assistance?

    If you have questions or need assistance, you can call 1-800-552-GRAD (4723) and press prompt 2. The customer service team is ready to help you with your concerns.

  8. Where do I send the completed cancellation form?

    After completing and notarizing the form, send it to the following address: Florida Prepaid College Board, P.O. Box 6567, Tallahassee, FL 32314-6567.

Common mistakes

  1. Neglecting Notarization Requirements: Many individuals fail to ensure that all signatures on the cancellation form are properly notarized. This includes both the account owner's and, if applicable, the survivor's signature. Notarized signatures must be original; faxed or photocopied versions are not accepted.

  2. Incomplete or Incorrect Information: A common mistake involves submitting a form with missing or incorrect details. This may include omitting the account owner’s name, plan number, or failing to select a cancellation reason. Such errors can lead to delays in processing the cancellation.

  3. Improper Notary Acknowledgment: Some people overlook the requirement for the notary to complete specific sections of the form. The notary must date the document, print the names of the account owner and survivor, and provide a separate stamp for each signature. Failure to comply can invalidate the notarization.

  4. Ignoring Address Updates: Individuals often forget to update their mailing address on file when submitting the cancellation form. If an address change is necessary, it must be accompanied by a Change of Address Form. Without this, the refund may be sent to the outdated address, complicating the process further.

How to Use Florida Prepaid College

After filling out the Florida Prepaid College form, you will need to submit it for processing. Make sure all required signatures are notarized, as this is essential for the cancellation to be valid. Keep in mind that any mistakes or missing information can delay the process.

  1. Obtain the Florida Prepaid College Plan Voluntary Cancellation Form.
  2. Fill in your Plan Number, Account Owner Name, Beneficiary Name, and Daytime Telephone Number at the top of the form.
  3. Select one cancellation reason by marking the appropriate box.
  4. Sign the form as the Account Owner. Make sure your signature is original.
  5. Find a notary public. Have them acknowledge your signature on the form. Ensure they complete the required notary information, including the date and type of identification used.
  6. If applicable, have the Survivor sign the form. They must also get their signature notarized in the same manner as the Account Owner.
  7. Double-check that all signatures are original and that the notary has stamped the form correctly.
  8. Return the completed and notarized form to the Florida Prepaid College Board at the address provided: P.O. Box 6567, Tallahassee, FL 32314-6567.

File Specs

Fact Name Details
Notarized Signature Requirement The cancellation of a Florida Prepaid College Plan requires the account owner’s notarized signature. For plans purchased on or after February 1, 2009, the survivor’s notarized signature is also necessary if the plan includes coverage for Registration Fees.
Refund Process Upon cancellation, the account owner will receive a refund of total payments made, minus applicable fees. This includes a cancellation fee of 50% of total payments, not exceeding $50, if the plan has been held for less than two years.
Address Update Requirement If the account owner wishes to update their address during the cancellation process, a Change of Address Form must accompany the notarized cancellation form. The account owner’s signature is required for this update.
Timeframe for Refund Refunds are typically mailed within 45 days of receiving the completed cancellation request. The refund will be sent to the address on file, which must be current to avoid delays.
↓ Florida Prepaid College PDF Form

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