Florida Prepaid Announces 529 Savings Plan Enhancements

Families can save $50 when enrolling in a Prepaid Plan, and get $50 toward their college savings just for starting a Florida 529 Savings Plan

  • Now through October 13, Florida Prepaid will waive the $50 application fee when families enroll in a Florida Prepaid College Plan.
  • When families open a Florida 529 Savings Plan and set up automatic monthly contributions, Florida Prepaid will put $50 into their account.
  • The incentives to save come as Florida Prepaid announces several enhancements to its Florida 529 Savings Plan, including lower fees.

TALLAHASSEE, Fla. –To help families save for college in an easy and affordable way, the Florida Prepaid College Board is offering families a chance to enroll in a Prepaid Plan for free, and to get $50 toward college savings when they open a Florida 529 Savings Plan with automatic monthly contributions. The incentives come as Florida Prepaid enhances its Florida 529 Savings Plan with lower fees and other changes beneficial to families.

Now through October 13, families can use promo code DREAMBIG19 to take advantage of these incentives to start saving for college.

“Families have so many options to save for college with Florida Prepaid, and this is a great time for families to find a plan that works best for their savings goals,” said Board Chairman John Rood. “Also, we are excited to announce that the Florida 529 Savings Plan is better than ever and is now offered exclusively to Florida residents.”

Florida Prepaid has just made significant enhancements to its Florida 529 Savings Plan, including:

  • Reduced fees on all investment options, some by more than 70%
  • Expanded investment options, including four new static portfolios
  • The addition of well-known investment managers such as Vanguard, Dimensional Fund Advisors and Eaton Vance
  • A redesigned website and savings tools to help families track and meet college savings goals

“The combination of reduced fees with earnings that grow tax-free, means families can use a Florida 529 Savings Plan and have their money work harder to meet their college savings goals,” said Florida Prepaid Executive Director Kevin Thompson.

The enhanced Florida 529 Savings Plan offers a variety of flexible investment options to fit your family’s budget and savings style – contribute what you can, when you can to meet your savings goals.  Florida 529 Savings Plans can be used to cover books, tuition, housing, fees and other higher education costs. Prepaid Plans cover the cost of tuition and most fees, and allow families to lock in future college costs for less. There is an optional university dormitory plan, too.  Prepaid Plans start at just $47 per month.

For more information on college savings plans, go to www.myfloridaprepaid.com/bigdreams.

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About the Florida Prepaid College Board

The Florida Prepaid College Board manages the Stanley G. Tate Florida Prepaid College Program and the Florida 529 Savings Plan. Both are tax-favored 529 college savings plans authorized by Section 529 of the Internal Revenue Code. In 1987 the Florida Prepaid College Program was created by the Florida Legislature and the commitment and dedication of Mr. Stanley G. Tate to provide Florida families with an affordable means to save for their children’s future college education. The first Florida Prepaid College Plans were sold in 1988, and were augmented with the addition of the Florida 529 Savings Plan in 2002. Florida Prepaid is the largest, longest running and most successful prepaid plan in the nation with more than 2 million Florida Prepaid College Plans purchased and more than $14 billion in assets.  The Florida 529 Savings Plan has more than 80,000 active accounts with a market value of more than $675 million.

To see how Florida Prepaid helps families, visit here.