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Florida Prepaid College Plan

The largest and one of the oldest prepaid tuition plans in the country, Florida Prepaid College Plan is helping over one million Florida families save and lock in the future cost of attending Florida's public institutions.

Our Ratingx

Fee Scorex

4 of 5


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  • Program typePrepaid contract
  • Enrollment periodFebruary 1, 2019 through April 30, 2019.
  • Inception1987
  • State agency
    Florida Prepaid College Board
  • Tax deduction
  • Program Manager
    Florida Prepaid College Board

Ratings & Rankings

Our overall rating for FL residents

This is an excellent program with many benefits for the participant and positive investment attributes. If it has any significant weaknesses then it also has some particularly good things to recommend it.

Our overall rating for non-residents

This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.'s 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories.

Financial Benefits









State residency requirements:

The beneficiary or the parent/guardian must have been a Florida resident for the 12 months prior to enrollment. The beneficiary must be within the age/grade requirements for the selected plan.

Who can be a participant/owner in the program?

U.S. citizens and resident aliens at least 18 years old, UGMA/UTMA custodians, and legal entities organized in the U.S.

Significant time or age restrictions imposed by the program:

The beneficiary must be under 21 years of age and in the 11th grade or younger at the time of enrollment. Plan benefits must be used within 10 years after the expected date of college enrollment (not counting time in the military), unless an extension is requested.

Did you know?

  • 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.

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Minimum contributions:


Contractual Features

Contract prices:

In the 2019-20 enrollment, prices range from as little as $6.992.29 for the One-Year Florida University Plan for an 11th grader to as much as $29,472.26 for the four-Year Florida University Plan for a newborn. Dormitory plans can be purchased separately for up to four years. An extended payment plan is available.

Available tuition packages:

Four-year Florida University plan (120 credit hours), four-year Florida College plan (120 credit hours), two-year Florida College plan (60 credit hours), one-year Florida University Plan (30 credit hours) and a "2+2" plan combining Florida college and university attendance (120 credit hours). Optional contracts for payment of dormitory housing are also available for those purchasing the Florida University or 2+2 plans. Tuition-only plans (with optional plans covering local fees and tuition differentials) are no longer available for purchase.

Benefits for beneficiary attending private or out-of-state institution:

Benefits are paid out at the current rates paid to public universities in Florida; an out-of-state institution must be not-for-profit and regionally accredited; an in-state private college must be chartered in Florida, not-for-profit and accredited by the Accrediting Council for Independent Colleges and Schools.

Contract payment options:

Lump sum, 55 monthly installments, or monthly installments until October of the scheduled college enrollment year. Monthly payments can be made through automatic bank transfer, payroll deduction, or by check with coupons. For contracts purchased during the the 2019-2020 enrollment period, payments are due on the 20th day of each month. The first payment due date will be the 20th day of the first month following application acceptance.

Are program benefits backed by the full faith and credit of the state?

Yes, and in the event the program is terminated, all participants within 5 years of college enrollment will receive full promised benefits while others will receive a refund of payments made plus interest.

Are program benefits collateralized or guaranteed in any other way?


Fees & Expenses

Enrollment or application fee:


Taxes and other Benefits

  • Tax deduction for single filersNone
  • Tax deduction for joint filersNone


Florida doesn't offer tax deductions

Program match on contributions:


State tax deduction or credit for contributions:

Not applicable. Florida does not have a personal income tax.

State tax treatment of qualified distributions:

Not applicable. Florida does not have a personal income tax.

State tax treatment of rollovers:

Florida does not have a personal income tax. Note: program materials indicate that this plan does not accept rollovers from another 529 plan.

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?

Yes, the qualified beneficiary is classified a resident for tuition purposes regardless of actual home of record.

Does the program have a formal agreement with a rewards program or outside scholarship program?

Yes, the Upromise Rewards program can be linked to any 529 college savings plan. Upromise Rewards is free to join and offers members cash back for college.

Upromise Helps Families Save for College

Upromise Helps Families Save for College

Statutory protection of an account from creditors:


Did you know?

  • 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.

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Distributions & Terminations

To whom are distributions made payable:

Eligible educational institution; a cancellation refund or scholarship refund is payable to account owner

Account Changes

Policy regarding participant/owner changes:

Accepts requests to transfer contract ownership.




Start saving for your child's future today

Step 1

Click the blue Enroll Now button to the right

Step 2

Complete the online application and make your first deposit

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7,618 clicked to enroll