Backpack is not compatible with Prepaid plans. These plans work differently from 529 savings plans, rather than saving cash in an investment account, prepaid plans allow families to lock in future tuition at in-state public colleges at today’s rates. Because they don’t use account and routing numbers or support electronic disbursements, prepaid plans can’t be linked to Backpack’s banking system.
If you have a prepaid plan, you’re typically responsible for submitting tuition bills and any required documentation directly to the plan administrator, who then arranges payment with the school. This process varies by plan, so be sure to follow your provider’s specific instructions.
If you're unsure whether your 529 is a savings or prepaid plan, it's a good idea to check with your provider before attempting to link it to Backpack. Below are a few examples of Prepaid Plans:
Texas Tuition Promise Fund
Virginia Prepaid Program
Washington Guaranteed Education Tuition (GET) Program
Florida Prepaid (note: Florida Prepaid also has a 529 Investment Plan)
PA 529 Guaranteed Savings Plan
Nevada Prepaid Tuition Program
Mississippi Prepaid Affordable College Tuition (MPACT)
Michigan Education Trust (MET)
Massachusetts U.Plan Prepaid Tuition Program