Explore Our Florida 529 Savings Plan
The Florida 529 Savings Plan offers a flexible approach to saving.
- Open — Start your account in about 10 minutes
- Choose — Select from a variety of investment options to fit your savings goals
- Save — Contribute what you can, as often as you’d like
Knowing is Believing
You can take the hassle out of investing with our most popular investment option – the Age Based/Years to Enrollment Portfolio.
You can contribute as much or as little as you want to your Florida 529 Savings Plan. It’s easy to set up monthly contributions and change them at any time. You can also invite family and friends to contribute toward your college savings goals with our eGift portal.
Our Florida 529 Savings Plan allows your investment earnings to grow tax-free. That means more dollars saved for your student’s future.
Use 529 Savings Plans for many education costs—from qualified K-12 expenses to higher education tuition and fees, housing, books and supplies. Funds can be used at any qualified educational institution nationwide, public or private.
Investing with a Florida 529 Savings Plan
The Florida 529 Savings Plan offers a variety of investment options. From conservative to aggressive, beginner to expert, a Florida 529 Savings Plan suits every investment style.
Our most popular account, the Age Based/Years to Enrollment Portfolio adjusts the mix based on your child’s age and number of years to college enrollment.
Create your own portfolio, choosing from three predesigned portfolio options and eight individual fund options that include money market, bond and stock choices.
How Much Should You Save for College?
In 2016-2017, the national average college cost for one year at a public university (including tuition, fees, room and board) was $20,000. Studies show that families expect to pay about 40% out of pocket, with scholarships, grants and loans covering the remaining amount.
Find out what the cost of college looks like for your family with our personalized college cost calculator. Enter your child’s age, choose information from a specific college or university, and view costs both with and without room and board.
Automatic Monthly Deposits Add Up
Setting up monthly contributions is an easy strategy for keeping your college savings on track.
If you have questions, we have the answers!
Prepaid Plans and Savings Plans work well together. For example, you could use a Prepaid Plan to cover up to four years of tuition, and fees and a Savings Plan to pay for books, a computer, and room and board. If you don’t want to use a Prepaid Plan to save for all four years of tuition and fees, you could purchase a 2-Year Florida College Plan or one or more 1-Year Florida University Plans and also open a Savings Plan.
You may change your investment allocation for new contributions at any time, but the existing balance may be reallocated only twice per calendar year.
Funds may be used tax-free to pay for any qualified higher education expense, such as tuition, fees, books, room and board, etc. at schools nationwide.
No, Florida residency is not required. Anyone who is 18 years or older and a U.S. citizen or resident alien may open a Florida 529 Savings Plan at any time for a child or adult, regardless of age, who is a U.S. citizen or resident alien.
Remaining funds in the Florida 529 Savings Plan can be used for graduate courses, transferred to an eligible family member of the child, or refunded to the Account Owner.
The Florida 529 Savings Plan is an investment plan, so you can choose how much and how often you contribute. There is no minimum contribution to get started and you can change your contribution amount as often as you like.
A Florida 529 Savings Plan account can be opened at any time. Grandparents, friends or family members can open an account or contribute to an existing one.
The Florida 529 Savings Plan is not insured or guaranteed. Investment returns will vary depending on the performance of the investment options you choose.
As much or as little as you like. The Portfolio Options provide a predesigned, diversified allocation structure that is professionally managed for you. Or you can decide to set different allocations based on your goals and comfortable risk level by combining the Portfolio and Fund Options, or choosing only a Fund Option.
The Tax Cuts and Jobs Act of 2017 expanded the definition of qualified higher education expenses, under Section 529 of the Internal Revenue Code, to include expenses for tuition and mandatory fees associated with enrollment or attendance at an elementary or secondary public, private, or religious school. Such expenses are limited to $10,000, in the aggregate, from all 529 plans for the student. The new law applies to any withdrawal or expense after January 1, 2018.
Please visit our Savings Plan FAQS for more information.