Families can get $50 added to 529 Savings Plans opened now through June 30, 2025
- To encourage families who start saving this summer toward a child’s future higher education costs, Florida Prepaid will seed $50 into Florida 529 Savings Plan accounts opened May 1, 2025, through June 30, 2025.
- In partnership with Florida State Parks, Florida Prepaid is also offering families a chance to win one of 10 $1,000 Florida 529 Savings Plan scholarships and prize packs that include an inflatable standup paddleboard and hammock.
TALLAHASSEE, Fla. – Encouraging families to save early and consistently with a flexible, tax-advantaged option that fits their budgets, the Florida Prepaid College Board is offering families two incentives this summer around their nationally recognized Florida 529 Savings Plan.
First, Florida Prepaid will contribute $50 into every Florida 529 Savings Plan account opened between May 1 and June 30, 2025.
The Florida 529 Savings Plan can be used nationwide for qualified education expenses, including tuition, fees, room, board, books and supplies. Recent tax law changes have made the investment plans even more flexible, with uses allowed for K-12 expenses and even a rollover option into future retirement accounts. Families can build their own investment portfolio using the simple, intermediate or advanced investment strategies, and investment earnings are tax-free.
“The Florida 529 Savings Plan offers an affordable, flexible way for Floridians to save for a variety of higher education expenses,” said John D. Rood, chairman of the Florida Prepaid College Board. “By contributing $50 into newly opened accounts, we are sending a message of support to Florida families as they make the important decision to save toward a child’s postsecondary education.”
The second summer incentive is a scholarship program in partnership with Florida State Parks, happening for the fourth consecutive year. The Exploring Education Sweepstakes allows families to explore Florida’s award-winning state parks through the Junior Ranger Program, while entering to win one of 10 grand prizes. Each grand prize winner will receive a $1,000 Florida 529 Savings Plan Scholarship and a summer-friendly Florida State Parks prize pack that includes an inflatable standup paddleboard, a hammock and more. Florida families can enter through June 30, 2025.
The Florida 529 Savings Plan is a Morningstar medal-winning plan and is available exclusively to Florida residents. The Savings Plan allows families to save what they can when they can, or they can set up automatic monthly payments for as little as $25 per month. There are now more than 165,000 Florida 529 Savings Plans opened with a market value of more than $1.5 billion.
To learn more, visit myfloridaprepaid.com today.
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. The Board also oversees two direct-support organizations – The Florida Prepaid College Foundation and Florida ABLE, Inc., d/b/a ABLE United. 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 $15 billion in assets. The 529 Savings Plan has more than 165,500 active accounts, with a market value of $1.5 billion.
