Prepaid Plans
Enjoy peace of mind with a Prepaid 529 Plan.
What is a Prepaid 529 Plan?
It’s a simple, prepackaged college savings plan that covers tuition and fees and/or dormitory in one-year increments. It allows you to lock in your plan price based on the age of your child for less than the projected cost when your child attends college.
Benefits
of a Prepaid Plan
Flexible
Use plan value nationwide – public, private, trade and technical schools
Risk-Free
Protected by the State of Florida, so you can never lose your investment
Worry-Free
Transfer to another child or cancel anytime for a full refund
Affordable
Buy one year at a time based on your budget
Compatible
Works great with scholarships and financial aid
How do Prepaid Plans really work?
two types of
Prepaid 529 Plans
Prepaid Tuition
529 Plan
Purchase tuition and most fees in 1-year increments (30 credit hours)
Prepaid Dormitory
529 Plan
Purchase dormitory housing in 1-year increments (2 semesters)
two types of
Prepaid 529 Plans
Prepaid 529
Tuition Plan
Purchase tuition and most fees in 1-year increments (30 credit hours)
Purchase dormitory housing in 1-year increments (2 semesters)
Fund Fact
Watch
Learn about a Prepaid Tuition 529 Plan
You’re Covered For
All The What Ifs
What if we move out of state?
Your plan travels, too! It will pay the same amount as it would pay at a Florida public college or university. Plus, if your child returns to a Florida school, the plan qualifies them for in-state tuition. Bonus!
Do I need to be a Florida resident?
Anyone can purchase a Prepaid Plan (parent, grandparent, etc.). However, the student must be a Florida resident aged newborn – 11th grade when the plan is purchased. Proof of Florida residency is required during enrollment.
How long can a Prepaid Plan be used?
You lock in coverage for a full 10 years AFTER your child’s projected high school graduation. If your student takes a gap year, joins the military or starts a business, they still have plenty of time to use their plan.
What if my child receives a scholarship?
Great! You can use a Prepaid Plan in conjunction with scholarships to cover more college costs, or even save it for graduate school. Or get a refund for what we would have paid out on your plan and use that for housing, supplies, etc.
How do you use a Prepaid Tuition Plan?
It’s easy! When the time comes, Florida Prepaid pays the college directly for the tuition and fees covered by your plan(s).
What costs are covered by a 1-Year Prepaid Tuition Plan?
It covers 30 credit hours of Tuition, Tuition Differential Fee, and Local Fees – about 94% of the total cost – at any of the 12 state universities in Florida. The plan will be prorated when used at any of the 28 Florida public colleges.
Also, the value of your Prepaid Plan can be used nationwide – at public, private, trade and technical schools – and the amount we pay to other schools is the same as we would pay to Florida schools.
How do you cover other college expenses?
Prepaid Plans and Investment Plans go great together to give you the best combination – like peanut butter and jelly – to cover all the costs of college.
Want to learn more?
Visit our Help Center to get even more information on our Prepaid Plans.
