Florida Prepaid College Plan NEW! PDF ReportPRO


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.

5-Cap Rating


Savingforcollege.com'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. (Scale 0 to 5; 5 is highest)

Financial benefits Safety Features Reliability
4.00 4.00 4.50 4.00


Program type:

Prepaid contract

How to enroll:

Enroll directly with the program.

Initial year of operation:


State agency(ies):

Florida Prepaid College Board

Enrollment period:

October 15, 2017 through February 28, 2018.


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.

Contractual Features

Contract prices:

In the 2017-18 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 2017-18 enrollment period, the initial payment is due in April 2018.

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

Program match on contributions:

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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?


Statutory protection of an account from creditors:

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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.







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