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Compare 529 Plans by Features
Plan
Contract payment options
Florida
Account owners may pay in full (Lump Sum) or in monthly installments. Monthly payments can be made through automatic bank transfer, payroll deduction, or by check. Payments are due on the 20th day of each month beginning the first month following application acceptance.
Lump sum, 5 year monthly, 5 year annual and extended payments are offered. The extended payment plans are available only for children in 6th grade and younger. The extended payments offered match the number of years until your child starts college. The first payment is due on the first day of the second month following the month of enrollment.
Lump sum, annual, monthly, and extended monthly installments. At any time, you may elect to make a down payment of at least 25% of the payoff amount. All initial payments following enrollment are due on the first of the month on or before 60 days after enrollment.
Michigan
Lump sum, or monthly over 4 years, 7 years, 10 years, or 15 years. Date when payments begin under a monthly purchase contract depends on when the contract is submitted. Pay-As-You-Go option requires a minimum initial purchase of one-credit hour, but subsequent purchases can be made at any time in minimum increments of $25. Pay-As-You-Go contracts must be completed 45 days before use.
Lump sum, annual or monthly installments over a variety of terms, or a combination of lump sum and installment payments. The first payment is due on the first day of the third month following application submittal.
Lump sum, 5-year or 10-year monthly payment plan, or extended monthly payment plan that ends when child reaches college age.