<p>Looking for some advice from anyone who has dealt with a PPT plan and how it works with scholarships your D or S may have won. We have a fully paid 4yr PPT plan for our S and D. It will cover the tuition only (no books, R&B or fes) at any of our state's public universities. It can also be put toward any private or out of state schools, but at a predetermined amount. Here's the rub. Our S won a very generous scholarship at an in-state private school. He has everything paid for: tuition, R&B, books, fees, etc. There is nothing left to pay for with the PPT plan. We can cash out the PPT plan at the initial cost plus 2% annual interest. That is a nothing compared to it's value (almost double) if we use it as tuition. We can't transfer it to our D because she already has a paid for 4yr PPT plan. Has anyone else dealt with this type of situation? What other options besides cashing it out are there? I am not complaining at all because S has saved dear old mom and dad a ton of $$, but it would be nice to able to sock away more for his graduate school. By the way, this PPT contract is in his name, so it is his. I can't go out and buy a new boat for myself with it.</p>
<p>Are you sure it does NOT allow for payment of Grad school?
I believe most are written to be allowed for grad school so long as it is continuous and they're your dependent (in other words they don't take off a couple years, get married etc.)</p>
<p>I'll double check, but I am almost certain it won't work for grad school.</p>
<p>I called and left a msg with school. I will call again on Monday. Anyone else?</p>