Florida College Investment Plan

College Investment Plan

The Florida College Investment Plan offers your family an affordable, flexible way to save tax-free for your children's or grandchildren's college education.

Families can open a Florida College Investment Plan account with a $25 a month automatic bank withdrawal or an initial single payment of $250.

You decide when to add money to your investment account, which allows you to save at a pace that fits your family's budget.

With the Florida College Investment Plan, you can save for college tuition, fees and housing, and for other college expenses not covered by the Florida Prepaid College Plan such as textbooks and graduate school. You can use it at colleges nationwide.

You have a choice of five investment options: Fixed Income Investment, U.S. Equity Investment, Balanced Investment, Age Based/Years to Enrollment Investment or a Money Market Fund. You can use one or a combination of investment options.

The Florida College Investment Plan allows you to:

• Open an account with an automatic withdrawal of just $25 per month or an initial contribution of $250. You can add to it any time you want.
• Open an account for anyone, even an adult like yourself returning to college for graduate school or professional certification. There are no income, age or residency requirements.
• Use your college savings at most accredited U.S. colleges and universities.
• Withdraw the money at any time for qualified higher education expenses.
• Avoid the commissions and sales fees of other 529 plans.
• Pay a low annual administrative fee of ¾ of one percent (75 basis points or 0.0075) of the account balance.