You may choose from one or more of our investment options based on your investment objectives. We offer a predesigned enrollment year portfolio, predesigned static portfolios, and a suite of individual investment funds, which cover a broad spectrum of asset classes.

For more information, please visit our Investment Options page.

We use a strategic and competitive selection process to identify and contract with professional investment managers. Each investment manager is selected based on numerous factors, including, but not limited to: investment philosophy and strategy, performance history, organizational experience and financial stability. For more information about investment managers, please review the Program Description and Participation Agreement.

For new contributions, you can change your investment allocation at any time. For existing balances, the IRS limits balance reallocations to twice per calendar year.

Currently, The Board has approved a 0.00% (0 bps) Administration Fee associated with Florida 529 Savings Plans. There are no adviser fees, sales commissions or annual account fees like those you may find in other plans.

For more information regarding the underlying investment manager fund fees, please review the Program Description and Participation Agreement.

There are multiple ways to make a contribution. You can:

1. Contribute online at myfloridaprepaid.com. We offer one-time and recurring options;
2. Mail a check (including account number) payable to Florida 529 Savings Plan, PO Box 31483, Tampa, FL 33631-3483; or,
3. Sign up for automatic payroll deduction with a participating employer.

No. There is no minimum contribution to get started. You contribute as much and as often as you like.

Many families find the best way to fund a college savings plan is to set up an automatic monthly contribution so it’s part of their regular budget.

There is no annual contribution limit. You may contribute until the account reaches a maximum balance of $418,000. No further contributions can be made once the account has reached the maximum balance.

Yes. If you have friends and family that want to contribute to your Florida 529 Savings Plan, you can set up a gifting event through your online account at myfloridaprepaid.com and invite them to join the cause. Or, invite them to send a check and a Contribution Coupon Form to PO Box 31483, Tampa, FL 33631-3483. If someone sends a check for one of your plans, make sure they include an account number and your student’s name to help us properly post the funds to your plan.

Contributions received and processed before the close of trading on the New York Stock Exchange will be invested the same day. Contributions received and processed after the close of trading on the New York Stock Exchange will be invested on the next business day.

Yes. Funds may be transferred from another state’s 529 Plan into a Florida 529 Savings Plan. The IRS calls this a “rollover” and allows you to do so once every 12 months for the same Beneficiary.

In addition, Education Savings Accounts (ESAs), Uniform Gift/Transfers to Minor Act (UGMA/ UTMA) assets and redeemed U.S. Savings Bonds can also be transferred to a 529 Plan at any time.

For specific guidance relating to your college savings plans, please consult an investment adviser or certified public accountant.

The Florida 529 Savings Plan allows you to develop your own plan to save for college and K-12 education. You decide how much you want to save and when you want to save. You also get to choose how you want to invest your savings using the investment options offered by the plan. Options include a predesigned enrollment year portfolio, predesigned static portfolios, and a suite of individual investment funds, which cover a broad spectrum of asset classes. When it comes time for college or K-12 education, you use your savings to pay for actual costs at that time.

We offer a Savings Planning Tool that will help you determine how much to save based on your specific scenario and savings goals.

It’s important to remember, when deciding how much to save, focus on what you can afford. You may want to, but you don’t have to save for everything. A recent survey by Sallie Mae found that parents expect to pay about 40% of their children’s college costs. One popular approach to saving is to focus on saving for just one category, like tuition and fees.

A Florida 529 Savings Plan can be used to pay for any Qualified Higher Education Expense as defined in Section 529 of the federal tax code. They include: Tuition; Fees; Room and board expenses during an academic period in which the student is enrolled at least half-time in a degree, certificate or other program that leads to a recognized educational credential awarded by an Eligible Educational Institution; Textbooks, supplies and equipment required for enrollment or attendance; Computers, peripheral equipment, software and internet service primarily used by the student; and Special needs services incurred in connection with enrollment or attendance. You can withdraw and use the funds for other purposes, but doing so may have tax consequences.

No. As with any investment, it is possible to lose money with a Florida 529 Savings Plan. We offer a variety of investment options ranging from conservative to aggressive. The degree of risk varies based on the investment option you select.

There are multiple ways to make a contribution. You can:
Contribute online at myfloridaprepaid.com. We offer one-time and recurring options;
Mail a check (including account number) payable to

Florida 529 Savings Plan
PO Box 31483, Tampa
FL 33631-3483

or,
Sign up for automatic payroll deduction with a participating employer.

Yes. If you have friends and family that want to contribute to your Florida 529 Savings Plan, you can set up a gifting event at myfloridaprepaid.com and invite them to join the cause. Or, invite them to send a check and a Contribution Coupon Form to PO Box 31088, Tampa, FL 33631. If someone sends a check for one of your plans, make sure they include an account number and your student’s name to help us properly post the funds to your plan.

Contributions received and processed before the close of trading on the New York Stock Exchange will be invested the same day. Contributions received and processed after the close of trading on the New York Stock Exchange will be invested on the next business day.

Yes. Funds may be transferred from another state’s 529 Plan into a Florida 529 Savings Plan. The IRS calls this a “rollover” and allows you to do so once every 12 months for the same Beneficiary.

In addition, Education Savings Accounts (ESAs), Uniform Gift/Transfers to Minor Act (UGMA/ UTMA) assets and redeemed U.S. Savings Bonds can also be transferred to a 529 Plan at any time.

For specific guidance relating to your college savings plans, please consult an investment adviser or certified public accountant.

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.

A Florida 529 Savings Plan can be opened by any individual 18 years of age or older that is a U.S. citizen or legal U.S. resident with a valid Social Security number.

The child or his/her parent or legal guardian must have been a Florida resident for the past 12 months.

You may enroll any time. Please visit myfloridaprepaid.com. We offer enrollment year-round.

The Beneficiary is the person you are saving for. You may enroll any Florida resident with a valid Social Security number who is a U.S. citizen or resident alien, at any age, and at any time. It’s never too early, or too late, to save for college.

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

Yes. While there can only be one Beneficiary for each plan, you can open separate plans for different Beneficiaries.

Yes. Many families choose to enroll in multiple plans. The aggregate maximum account balance for all plans for the same student is $418,000.

A parent planning for children may open a Florida 529 Savings Plan for himself or herself and then transfer some or all of the funds to the child after birth.

Yes. Florida Prepaid and Florida 529 Savings Plans work well together. For example, a Prepaid Plan will cover tuition and other specified fees. Pair it with a Savings Plan to pay for books, a computer, room and board, and other Qualified Higher Education Expenses.

None. You can open a Florida 529 Savings Plan for free. There is no application fee or minimum contribution to get started.

Your Florida 529 Savings Plan can be used at any time.

Your Florida 529 Savings Plan can be used at any Eligible Educational Institution.

An Eligible Educational Institution is an accredited postsecondary institution offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree, or another recognized postsecondary credential. Certain proprietary institutions and postsecondary vocational institutions are also Eligible Educational Institutions. The institution must be eligible to participate in a student financial aid program under Title IV of the Higher Education Act of 1965 (20 U.S.C. Section 1088).

To check the eligibility of a school, visit the Federal School Code Search or contact the school directly.

There is no set time period for using your Florida 529 Savings Plan.

Your Florida 529 Savings Plan can be used to pay for any Qualified Higher Education Expense as defined in Section 529 of the federal tax code. They include:

1. Tuition;
2. Fees;
3. Room and board expenses during an academic period in which the student is enrolled at least half-time in a degree, certificate or other program that leads to a recognized educational credential awarded by an Eligible Educational Institution;
4. Textbooks, supplies and equipment required for enrollment or attendance;
5. Computers, peripheral equipment, software and internet service primarily used by the student; and
6. Special needs services incurred in connection with enrollment or attendance.

You can withdraw and use the funds for other purposes, but doing so may have tax consequences.

No. Your Florida 529 Savings Plan can be used at any Eligible Educational Institution.

An Eligible Educational Institution is an accredited postsecondary institution offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree, or another recognized postsecondary credential. Certain proprietary institutions and postsecondary vocational institutions are also Eligible Educational Institutions. The institution must be eligible to participate in a student financial aid program under Title IV of the Higher Education Act of 1965 (20 U.S.C. Section 1088).

To check the eligibility of a school, visit Federal School Code Search or contact the school directly.

No. It is the responsibility of each student to qualify for admission to the college or university of their choice.

You may request a withdrawal from your Florida 529 Savings Plan online at myfloridaprepaid.com – we can send the money to you, to your student, or directly to an Eligible Educational Institution.

We issue withdrawals in two forms, via electronic funds transfer and via paper check. Electronic transfers are generally delivered within 3 days after a completed request is received. Paper checks are generally delivered within 45 days after a completed request is received. For security purposes, we may delay issuance of a withdrawal for 15 days due to recent contributions, account changes, etc.

Yes. A Form 1099-Q will be provided in January of each year to students who have used their plan during the previous calendar year. In addition, a Form 1099-Q will be provided to an Account Owner who has received funds during the year. Tax documents will be available online at myfloridaprepaid.com and mailed based on your delivery preferences.

For specific tax information, please consult an investment adviser or certified public accountant.

You may transfer your Florida 529 Savings Plan to another eligible student (including yourself). Starting January 2024, you may also choose to transfer (roll over) remaining 529 Savings Plan funds to a beneficiary’s Roth IRA (Individual Retirement Account). The lifetime maximum a parent can transfer is $35,000 per beneficiary, and the account must have been open for 15 years (with rollover funds in the account for at least 5 years). Any rollover is also subject to current Roth IRA contribution limits.

Alternatively, you may close the plan and withdraw the remaining balance. Any earnings that are not used for Qualified Higher Education Expenses are subject to federal and, if applicable, state income taxes. In addition, there is a 10% federal tax penalty on the earnings not used for Qualified Higher Education Expenses with certain exceptions for death, disability and scholarships (to the extent of the amount of the scholarship).

For specific information about your tax situation, please consult an investment adviser or certified public accountant.

Yes. You may cancel your Florida 529 Savings Plan and withdraw funds at any time and for any reason. Please keep in mind, any earnings that are not used for Qualified Higher Education Expenses are subject to federal and, if applicable, state income taxes. In addition, there is a 10% federal tax penalty on the earnings not used for Qualified Higher Education Expenses with certain exceptions for death, disability and scholarships.

For specific information about your tax situation, please consult an investment adviser or certified public accountant.

Yes. Florida 529 Savings Plan ownership can be transferred at any time to an individual 18 years of age or older and a U.S. citizen or legal U.S. resident.

In addition, funds may be transferred from one Florida 529 Savings Plan to another for a member of the student’s family. The IRS calls this a “rollover” and allows you to do so once every 12 months for the same Beneficiary.

If you or your student move out of state at some point, your plan will continue as if you never left Florida.

A Florida 529 Savings Plan is owned and managed by a single Account Owner. However, after you enroll, you may name a Survivor who will have a right of survivorship. In addition, for plans purchased after to February 1, 2009, the Survivor will also have certain limited rights of approval for change of Beneficiary, change of Account Owner and cancellation.

Starting January 2024, you may choose to transfer (roll over) remaining 529 Savings Plan funds to a beneficiary’s Roth IRA (Individual Retirement Account). The lifetime maximum a parent can transfer is $35,000 per beneficiary, and the account must have been open for 15 years (with rollover funds in the account for at least 5 years). Any rollover is also subject to current Roth IRA contribution limits.

For specific information about your tax situation, please consult an investment adviser or certified public accountant.