The Florida 529 Savings Plan offers you the ultimate in flexibility. Simply choose from our investment options, then contribute as much and as often as you’d like to suit your budget and goals. Each investment option, such as our popular age-based option that automatically allocates contributions based on the age of the child, is independently run by professional investment managers.
The funds in your Florida 529 Savings Plan can be used for any qualified higher educational expense, including tuition, room & board, textbooks, graduate school and much more. This gives you extreme flexibility to use the funds as you see fit, for whatever your child may need. And should those needs change during his/her college years, you’re free to adjust as well.
There are two primary advantages to a Florida 529 Savings Plan.
First, you can start any time and save for any amount of time. Even if you can’t save for your child’s entire college education, starting something is always better than doing nothing.
Second, the 11 investment options let you invest in any way you feel comfortable. From more aggressive to more conservative options, and with age-based and fully customized approaches, you have as much control as you want over how much you invest and where it’s invested. And as the years go by, you’re free to change contribution amounts and how they are allocated at any time.
You may change your investment allocation for new contributions at any time, but the existing balance may be reallocated only once per calendar year.
Funds may be used tax-free to pay for any qualified higher education expense, such as tuition, fees, books, room and board, etc. at schools nationwide.
No, Florida residency is not required. Anyone who is 18 years or older and a U.S. citizen or resident alien may open a Florida 529 Savings Plan at any time for a child or adult, regardless of age, who is a U.S. citizen or resident alien.
Remaining funds in the Florida 529 Savings Plan can be used for graduate courses, transferred to an eligible family member of the child, or refunded to the Account Owner.
Absolutely. The plans work well together. For example, a Florida 529 Savings Plan could be used to pay for books, a computer, room & board, and other qualified higher education expenses, while the Florida Prepaid College Plan pays Tuition and most fees at a Florida College or State University.