Investment 529 Plans

The Investment Plan lets you build your own savings plan. You decide how much you want to save and when you want to save. You choose your investments from a wide variety of options offered by the plan. When it comes time for college, you use the funds in your account to pay for college costs at that time.

Investment Plans are not guaranteed, so the value of your investment is subject to market fluctuations. Many families choose to enroll in both Prepaid Plans and Investment Plans to diversify their savings.

You may enroll in an Investment Plan at any time and start saving right away.

The Student is the person you are saving for. You may enroll any Florida resident with a valid Social Security number, at any age, and at any time, including for yourself as an adult.

You can cancel the plan and withdraw the remaining balance, or the plan can be transferred to another family member (including the parent!). There is no expiration on when the funds must be used.

Your plan travels with you and can be used at most colleges, universities, technical and trade schools nationwide.

Qualified expenses include tuition and fees, housing, meal plans, books, supplies, as well as computers and equipment. Housing and meal plans are considered qualified expenses when the student is enrolled at least half-time.

Qualified expenses now also include tuition and mandatory fees associated with enrollment or attendance at an elementary or secondary public, private, or religious school, up to $10,000 annually.

You can use your Investment Plan to cover other college costs like housing, books, supplies or even graduate school.  Also, you can cancel the plan and withdraw the remaining balance or the plan can be transferred to another family member (including the parent). There is no expiration on when the funds must be used.

Yes, a parent or grandparent may open an Investment Plan for himself or herself and then transfer some or all of the funds to the child after birth.

Yes, Prepaid Plans and Investment Plans work well together. For example, a Prepaid Plan will cover tuition and most fees. An Investment Plan can be used to pay for books, a computer, room and board, and other Qualified Higher Education Expenses.