If my child has 4 year florida prepay and top bright futures, how much do you think we would have to pay for room and board after all is said and done?
My estimate is about $4500 per year. But there are some assumptions in this. Like, will BF keep at the same level as this year? That is not guaranteed right now, up to state government to continue it beyond this school year. Also, that fees don’t change dramatically, no changes to what Prepaid pays for, etc. Then there are books to cover as well.
Bottom line, it will cover a large portion and make UF an incredible bargain.
I completely disagree with this assumption. The legislature is basically the same in 2017 to 18. The economy (the reason for the reduction 8 years ago) is strong. And the veto was for the overall education bill not this specific provision. I would assume everything is as 2017.
Just one point. I think the above works for most of the public schools, but BF actually allows the schools to determine how BF funds are used. My child of course is at a school where BF can only be used for tuition! I was as shocked as I assume you are reading this, as we thought she’d get that BF money to pay for housing or food as she also has a merit and athletic scholarship to pay tuition but no, only tuition with the BF money. Also the FRAG can also only be used for tuition and nothing else. I think the public schools allow BF to be used for just about anything, including study abroad and personal expenses. Yes, even beer.
I spent a ton of time with the FA officer at her school to figure out a way to apply all her funds in the order most helpful for her. Her money from the school can go to anything on the bill, but they don’t refund any of it to her. Until this year it worked out that everything billed was covered with her awards and she got a refund of everything that could be refunded, such as a Pell grant and other federal money. This year, because of the increase in BF and an increase in FRAG, the school got to reduce its merit award. It was all a wash to us, but it really sucked that daughter didn’t get that money.
You can always save the prepaid funds for grad school too if you don’t need it.
@twoinanddone That is a big shame.