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Florida Prepaid College Foundation Launches Florida 529 Savings Plan Scholarship Program Today

May 15, 2017

  • The Florida 529 Savings Plan Scholarship Program will award 10 winners a $529 Scholarship deposited into a Florida 529 Savings Plan account.
  • The scholarships are part of the Florida Prepaid College Foundation’s continued commitment to increase awareness about the importance of saving for college.
  • The Florida 529 Savings Plan has no minimum contribution, opening the door for more families to save for college.
  • Florida residents can enter to win between May 15 and June 11, 2017.

TALLAHASSEE, Fla. – The Florida Prepaid College Foundation today kicked off its annual scholarship program to celebrate 529 College Savings Day, awarding 10 winners a $529 Scholarship deposited into a Florida 529 Savings Plan account. The Florida 529 Savings Plan Scholarship Program is part of the Florida Prepaid College Foundation’s ongoing commitment to educating families about the many budget-friendly, flexible college savings options available through the Florida Prepaid College Board.

“Our hope is that these scholarships will make a significant impact for the 10 Florida families who win, by helping them begin saving for college now and avoiding student debt later,” said Foundation Board Chairman John Rood. “Student debt continues to be a state and national concern, but families who set aside even a small amount in a Florida 529 Savings Plan account each month can defray much of that debt load.”

The average student debt of borrowers in the state of Florida is almost $24,000, and over half of 2015 college graduates had student loan debt, according to the Institute for College Access & Success’ recently released report on student debt.

The Florida 529 Savings Plan lets families avoid debt by saving at their own pace for college expenses, from tuition and fees to housing and books. A family can contribute as much and as often as desired, and accounts can be opened at any time.

There is no minimum contribution to open a Florida 529 Savings account, and there are no application fees. This makes the Florida 529 Savings Plan one of the most affordable ways for families to save for college. The Florida 529 Savings Plan was a Top 5 performer among direct-sold 529 plans for the 10-year time period in Savingforcollege.com’s 2016 performance rankings.

“The Foundation’s mission is so clearly illustrated through this scholarship program,” said Cynthia F. O’Connell, Director of the Florida Prepaid College Foundation. “By increasing awareness and opening up college savings opportunities for more families, we are helping to build a stronger Florida.”

Families can enter to win a Florida 529 Savings Plan Scholarship between May 15 and June 11, 2017, at www.Florida529SavingsPlanScholarship.com/. May 29 is celebrated nationwide as 529 College Savings Day, a time when families are encouraged to learn more about 529 Savings Plans.

Learn more about Florida 529 Savings Plans at www.myfloridaprepaid.com.