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Prepaid Plan
Prepaid Plans let you pre-pay all or part of the costs of a college education. They may also be converted for use at private and out-of-state colleges. Because of the unique structure of these plans, they are not considered in our ratings methodology.
The largest and longest running prepaid tuition program in the country, the Stanley G. Tate Florida Prepaid College Program has helped over one million Florida families save for college and lock in the future cost of attending Florida's public institutions. The value of the plan can be used at any qualified institution nationwide.
Program type
Enrollment period
Inception
State agency
Tax deduction
For single filers: None
For joint filers: None
Program manager
State residency requirements:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
Minimum contributions:
Contract prices:
Available tuition packages:
Benefits for beneficiary attending private or out-of-state institution:
Contract payment options:
Are program benefits backed by the full faith and credit of the state?
Are program benefits collateralized or guaranteed in any other way?
Enrollment or application fee:
Tax deduction for single filers:
Tax deduction for joint filers:
Note:
Program match on contributions:
State tax deduction or credit for contributions:
State definition of qualified expenses
State tax treatment of qualified distributions:
State tax treatment of rollovers:
Does the sponsoring state exclude the value of an account for state financial aid purposes?
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Is there a rewards program or outside scholarship program that works with this program?
Statutory protection of an account from creditors:
To whom are distributions made payable:
Policy regarding participant/owner changes:
Website:
Telephone:
Social Media
A good place to start:
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Saving For College is an unbiased, independent resource for parents and financial professionals, providing them with information and tools to understand the benefits of 529 college savings plans and how to meet the challenge of increasing college costs.