Prepaid 529 Tuition Plans

It allows you to prepay the cost of college in advance with fixed payments based on the age of your child, and lock in the cost of tuition and fees for less than the projected cost of college.

If the actual cost of tuition and fees is less than your total plan cost, Florida Prepaid refunds the difference. If the actual cost of tuition and fees is higher than your total plan cost, Florida Prepaid covers the difference—guaranteed by the State of Florida. You can never lose your investment.

Your first Prepaid Plan payment will be due on the 20^th of the following month if you enroll during Open Enrollment (February 1 – April 30).

If you enroll outside of Open Enrollment, you will receive your final Plan price at the start of Open Enrollment in February, and your first payment will be due March 20.

Open Enrollment is the only time of the year that you can complete the purchase of a Prepaid Plan and lock in your Plan price. Once you enroll, your Plan price will never go up. Prepaid Plan prices are announced at the start of each Open Enrollment period and are valid through the end of Open Enrollment each year.

Yes. You may submit your application at any time, and you will be notified of your final Prepaid Plan price at the start of the Open Enrollment period in February. Your first payment will be in March of that Open Enrollment period.

The Student is the person you are saving for. You may enroll any Florida resident with a valid Social Security number, age newborn through 11th grade, in a Prepaid Plan. The student may have up to a maximum of 120 hours (4 years) of Prepaid Plan coverage and up to eight semesters (4 years) of university dormitory coverage.

If a parent lives in Florida and has done so for 12 consecutive months prior to purchase, then that parent may enroll their child who lives in another state.

Prices are based on a combination of factors, including current tuition and fee rates, tuition inflation and investment yields. Prices for new Prepaid Plans may change from year to year, however once you complete enrollment your plan price will never go up. The price you pay for your Prepaid Plan is less than what college is expected to cost in the future.

Plans can be used at in-state, out-of-state, public or private schools around the country – or even the world. The value we pay to other schools is the same as we will pay to a Florida school. For example, if we pay $200 per credit hour to a Florida Public university the semester your child attends college, then we would pay the same $200 per credit hour to an out-of-state or private school. Any cost difference would be the student’s responsibility.

Your Plan travels too. It will pay the same amount as it would pay at a public college or university in Florida. Plus, if your child returns to a Florida public school, the Plan qualifies them for in-state tuition.

Prepaid Plans can be transferred to another eligible family member, or you can get a refund for what you paid for your Plan. 

Prepaid Plans work great alongside scholarships, including Florida Bright Futures, to cover even more college expenses. Alternatively, you can hold the Prepaid Plan and save it for graduate school, or request a scholarship refund for what we would have paid out on your plan. You can even transfer Prepaid Plans to another family member.

The Plan locks in coverage for a full 10 years AFTER your child’s projected high school graduation.

The Account Owner owns the Prepaid Plan and all contributions. The Account Owner retains full control over the plan and who uses it.

No. Every Prepaid Plan is guaranteed by the State of Florida, so you can never lose what you’ve paid in.