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Stanley G. Tate Florida Prepaid College Plan

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.

Fee Score

4 / 5

Performance

N/A
  • Program type
    Prepaid Plan contract
  • Enrollment period
    Enroll any time. The plan announces new pricing at the start of the annual Open Enrollment period. If you enroll outside of the Open Enrollment period, you will receive the pricing information for your plan when the next Open Enrollment period begins.

    Open Enrollment: February 1, 2021 through April 30, 2021.
  • Inception
    1987
  • 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

Not Open

This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.

SAVING FOR COLLEGE’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

4.00

Features

4.50

Safety

4.00

Reliability

4.00

Eligibility

State residency requirements:

Who can be a participant/owner in the program?

Significant time or age restrictions imposed by the program:

Contributions

Minimum contributions:

Contractual Features

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?

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Fees & Expenses

Enrollment or application fee:

Taxes and other Benefits

  • Tax deduction for single filers
    None
  • Tax deduction for joint filers
    None

Note

Florida doesn't offer tax deductions

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?

Upromise Helps Families Save for College

Statutory protection of an account from creditors:

Distributions & Terminations

To whom are distributions made payable:

Account Changes

Policy regarding participant/owner changes:

Contact

Website:

Telephone:

Twitter

https://twitter.com/FloridaPrepaid

Facebook

Plan News

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