Bright Futures and Florida Prepaid

How do Bright Futures & Florida Prepaid work together?


Bright Futures and Florida Prepaid can be confusing-- particularly when you have both! For starters, let's talk about the difference between the two:

Bright Futures

Bright Futures is a State-sponsored scholarship program that rewards Florida high school graduates for high academic achievement. Student's apply for the award through the Office of Student Financial Assistance at the Florida Department of Education, and must meet basic eligibility requirements to receive either the Academic Scholarship or the Medallion Scholarship. 

How much is Bright Futures worth?

You could have one of two Bright Futures awards-- the Academic Scholarship or the Medallion Scholarship. Each award is based on initial and renewal eligibility requirements, which you can find on the Florida Department of Education Bright Futures website.

Award Rate
Academic Scholarship

$213.55
per credit hour
(plus $300 per term book award in Fall and Spring)

Medallion Scholarship

$77
per credit hour

 

Florida Prepaid

Florida Prepaid is a college savings plan that is either purchased as a 529 investment plan or the Florida Prepaid College Plan. Each option can be used at Florida State University. With a Florida Prepaid plan your funds are either invested or you make flat payments which will be used to pay your college expenses once your student is enrolled. 

How much is Florida Prepaid worth?

There are a number of plans that you may have purchased from Florida Prepaid, and each one will pay out at a separate rate. In general, students have either one or a combination of: tuition, local fee, differential, or housing Florida Prepaid plans. The number of hours that you have available to use for each plan may vary, based on whether you purchased a four-year University plan, a 2+2 College/University plan, or a college-only plan. Four-year University plans provide 120 hours of credit, while 2+2 and college plans may offer less credit at the University rate.

Award Main Campus Rate Panama City Rate Sarasota Rate
Tuition Plan

$115.08
per credit hour

$115.08
per credit hour

$115.08
per credit hour
Local Fees Plan

$34.73
per credit hour

$10.57
per credit hour
$12.38
per credit hour
Differential Plan $49.59
per credit hour
$49.59
per credit hour
$49.59
per credit hour
Housing Plan

Variable
Contact Housing

Variable
Contact Housing
Variable
Contact Housing

 

Which Pays first?

The University will always bill your Florida Prepaid account first. Because we share the Florida Prepaid database, we will bill your Florida Prepaid and apply your waivers without you having to do anything. Once your tuition is calculated for a term, you will see your Florida Prepaid billing and any associated waivers posted to your account within a week. Your billing will give you an idea of how much Florida Prepaid will pay based on your plans. 

Bright Futures will disburse as early as ten days prior to the start of class. Because your Florida Prepaid has already been used to offset your account, your Bright Futures will cover any remaining fees (tuition or otherwise), and any remaining balance will be sent to you as a refund.

Why didn't florida prepaid cover all of my fees?

As you can see in the chart above, Florida Prepaid does not cover all of the associated fees charged by Florida State University (such as transportation access, technology, or additional costs for labs or online classes). These fees will have to be paid out of pocket, or in the case of a student who has both Bright Futures and Florida Prepaid, will be paid by the Bright Futures award when it disburses.