Once you book a package and have paid in full, can you cancel, reschedule, etc?

[Childs1stTime2Disney]

Once you book a package and you pay in full (So under 30 days), what would happen if you have to cancel? What would you lose? What about if you needed to reschedule? Can someone explain, not sure I understand what I have read.

 

[NikitaZee]

We had to re-schedule our February trip 5 days before we were supposed to leave. Package paid in full. We were paying rack rate in value season, and we re-scheduled to May with the 20% room only discount. We ended up paying almost exactly the same. I called and the cast member did it quickly and easily for me, and also waived the $50 change fee. I'm not sure if you can do it online or not, I didn't try. We also re-scheduled our Mears shuttle, I did that online easily and just changed dates and flight info. That was also already paid in full.

 

[Marthasor]

Once you book a package and you pay in full (So under 30 days), what would happen if you have to cancel? What would you lose? What about if you needed to reschedule? Can someone explain, not sure I understand what I have read.

If you cancel outright, there is a $200 cancellation fee. If you reschedule, they will transfer all money paid to the new package, but you will have to pay prevailing rates - if the rate goes up or stays the same, they typically waive the $50 change fee. If the price goes down, they may charge you $50.