When families open a Prepaid 529 Plan, tuition is usually the first thing they think about—and for good reason. Tuition is often the biggest and most daunting part of paying for college.
But tuition isn’t the only major expense.
Housing plays a significant role in the overall cost of college, and like many other essentials, housing prices continue to rise. The good news? Florida Prepaid offers a plan designed specifically to help families get ahead of those costs — the Prepaid Dormitory 529 Plan. Since housing can make up roughly 30% of a student’s expenses, planning early can make a meaningful difference.
Just like our traditional Prepaid 529 Plans, the dorm plan is guaranteed by the state of Florida, so families will never lose their investment. Families can purchase these affordable plans in one-year increments (two semesters each), up to four years total.
Why Consider the Prepaid Dormitory 529 Plan?
- Pays for Real Housing Costs.
Covers a standard, double-occupancy, air-conditioned dorm room at any of Florida’s 12 state universities. It may also be used at certain university-managed fraternity and sorority houses and other university-held housing. - Flexible.
Attending college out of state? The value of the plan can be applied toward dorm housing nationwide. - Easy Payment Process.
Florida Prepaid pays the college directly for the housing covered by the plan — one less thing for families to manage during a busy transition. - Built-In Community.
Campus housing helps students form friendships, access academic and social resources, and feel connected from day one.
Anyone can purchase a Prepaid Dormitory 529 Plan — even if they don’t already have a Prepaid 529 Tuition Plan. Parents, grandparents, aunts, uncles, and family friends can all contribute. The only requirement is that the student must be a Florida resident at the time the plan is purchased, with proof of residency submitted during enrollment.
By planning ahead for housing today, you can help offset one of college’s biggest expenses and give your student a more comfortable, confident start to college life.
Since 1988, Florida Prepaid’s goal has been to help make saving for college affordable and attainable for all Florida families. Build your perfect college savings strategy in minutes!
