4 / 5
Our rating
FL resident benefits
The Florida 529 Savings Plan is administered by the Florida Prepaid College Board. In September 2019 the Board enhanced the plan with expanded investment options, reduced fees, and additional investment managers. In 2022 the Board converted the age-based option to enrollment year funds that automatically reallocate quarterly within each fund. As a result, the plan currently offers 20 enrollment year options (each year represents an estimated time for when the funds will be needed), six static options (predesigned based on investment goals such as growth or income), and 15 individual funds (for more sophisticated investors who want to do it themselves).
Scores for each ratings category
3.0 / 5
Performance
3.17 / 5
Ease of Use
4.06 / 5
Savings Success
4.33 / 5
Program Delivery
Program type
Inception
State agency
Tax deduction
For single filers: None
For joint filers: None
Program manager
Program distributor
Manager contract term
State residency requirements:
Who can be a participant/owner in the program?
Significant time or age restrictions imposed by the program:
529 plan contributions grow tax-free.
Withdrawals are tax-free when used to pay for qualified higher education expenses.
You can contribute as much as you want, as often as you want.
The key is to get started. Enroll today by completing a quick form online.
Maximum contributions:
Minimum contributions:
Does the program offer an e-gifting platform for receiving gift contributions?
Investors in Florida 529 Savings Plan can select from the following investment options. Click on a portfolio name for more information.
Portfolio | E.R. | % Equity | 1yr performance |
---|---|---|---|
2041 Portfolio | 0.1% | 85% | 6.95% |
2040 Portfolio | 0.1% | 85% | 6.95% |
2039 Portfolio | 0.09% | 84.25% | 6.98% |
2038 Portfolio | 0.09% | 76% | 7.13% |
2037 Portfolio | 0.08% | 70% | 6.93% |
2036 Portfolio | 0.08% | 64% | 6.78% |
2035 Portfolio | 0.07% | 58.5% | 6.67% |
2034 Portfolio | 0.07% | 53% | 6.55% |
2033 Portfolio | 0.06% | 47% | 6.43% |
2032 Portfolio | 0.06% | 41% | 6.27% |
2031 Portfolio | 0.06% | 35% | 6.15% |
2030 Portfolio | 0.06% | 29% | 5.99% |
2029 Portfolio | 0.05% | 22.5% | 5.98% |
2028 Portfolio | 0.06% | 16.5% | 5.82% |
2027 Portfolio | 0.07% | 12% | 5.63% |
2026 Portfolio | 0.08% | 10% | 5.45% |
2025 Portfolio | 0.09% | 10% | 5.44% |
Enrolled Portfolio | 0.1% | 10% | 5.49% |
2042 Portfolio | 0.1% | 85% | 6.95% |
2043 Portfolio | 0.1% | 85% | N/A |
Age-based/Enrollment Year investment options:
Static investment options:
Underlying investments:
Underlying fund allocations:
Portfolio Fees & Performance Lookup
Enrollment or application fee:
Account maintenance fee:
Program management fees:
Expenses of the underlying investments:
Total asset-based expense ratio:
Tax deduction for single filers:
Tax deduction for joint filers:
Note:
Program match on contributions:
State tax deduction or credit for contributions:
State tax recapture provisions:
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:
Residents are not limited to investing in their own state's 529 plan.
Another state may offer a plan that performs better and has lower fees.
The 529 plan chosen does not affect which state the student enrolls in.
You can live in New York, open a plan from Nevada and send a student to college in Florida.
The best way to maximize your college savings?
Start early and save often. You can get started today with easy online enrollment.
To whom are distributions made payable:
Policy regarding participant/owner changes:
Does participant have online password-protected access to account?
Can the complete enrollment process including funding be done online?
Documents and other services accessible or downloadable on the program's public Web site:
Telephone:
Social Media
Complete the online application and make your first deposit
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.