Florida 529 Plan
Florida offers two 529 college savings plans, a traditional 529 savings plan called the Florida College
Investment Plan, and a pre-paid tuition plan called Florida Prepaid College plan.
Florida College Investment Plan
The Florida College Investment Plan is a traditional 529 plan that allows you to invest money today and reap tax
benefits when you withdraw it to pay for qualified education expenses.
Type: Direct - this Florida 529 plan can be purchased directly.
Fund Family: Various
Minimums: To get started you can deposit $250 or set up a monthly payment plan of $25.
Subsequent contributions of any amount can be made when it is convenient for you.
Maximum Contributions: Currently, you can contribute up to $418,000 to your Florida 529
plan. Of course, your total amount in the plan can be higher as your investments group. 529 plans
typically increase the contribution limit over time, so you may be able to contribute more.
Tax Benefits: Earnings are exampe from State of Florida taxes. In and out-of-state
participants get the federal tax benefits.
Residency: Most 529 plans are open to residents of the United States.
You can learn more about the this 529 plan at the official web site.
Florida Prepaid College Plan
Florida also offers a pre-paid tuition plan that lets you lock in today's rates for college. It can be
used to pay for in-state public colleges, most in-state private colleges, some technical schools, and most
out-of-state colleges. However, private and out-of-state college expenses will be prorated and may not be fully
For more information about the Florida Prepaid College Plan, visit the official website.