How It Works

• September 11, 2019

  How It Works

  Can I use funds from my Florida 529 Savings Plan toward my child’s K-12 education?

  The Tax Cuts and Jobs Act of 2017 expanded the definition of qualified higher education expenses, under Section 529 of the Internal Revenue Code, to include expenses for tuition and mandatory fees associated with enrollment or attendance at an elementary or secondary public, private, or religious school. Such expenses are…

  Read More

• January 10, 2019

  How It Works

  Can I move money from another 529 Plan to Florida’s 529 Savings Plan?

  Yes. Funds may be transferred from another state’s 529 Plan into a Florida 529 Savings Plan. The IRS calls this a “rollover” and allows you to do so once every 12 months for the same Beneficiary. In addition, Education Savings Accounts (ESAs), Uniform Gift/Transfers to Minor Act (UGMA/ UTMA) assets…

  Read More

• January 10, 2019

  How It Works

  When are my contributions actually invested?

  Contributions received and processed before the close of trading on the New York Stock Exchange will be invested the same day. Contributions received and processed after the close of trading on the New York Stock Exchange will be invested on the next business day.…

  Read More

• January 10, 2019

  How It Works

  Can other people contribute to my Florida 529 Savings Plan?

  Yes. If you have friends and family that want to contribute to your Florida 529 Savings Plan, you can set up a gifting event at myfloridaprepaid.com and invite them to join the cause. Or, invite them to send a check and a Contribution Coupon Form to PO Box 31088, Tampa,…

  Read More

• January 10, 2019

  How It Works

  How do I contribute to my Florida 529 Savings Plan?

  There are multiple ways to make a contribution. You can: Contribute online at myfloridaprepaid.com. We offer one-time and recurring options; Mail a check (including account number) payable to Florida 529 Savings Plan PO Box 31483, Tampa FL 33631-3483 or, Sign up for automatic payroll deduction with a participating employer.…

  Read More

• January 10, 2019

  How It Works

  Are investment returns guaranteed?

  No. As with any investment, it is possible to lose money with a Florida 529 Savings Plan. We offer a variety of investment options ranging from conservative to aggressive. The degree of risk varies based on the investment option you select.…

  Read More

• January 10, 2019

  How It Works

  What college costs does the Florida 529 Savings Plan cover?

  A Florida 529 Savings Plan can be used to pay for any Qualified Higher Education Expense as defined in Section 529 of the federal tax code. They include: Tuition; Fees; Room and board expenses during an academic period in which the student is enrolled at least half-time in a degree,…

  Read More

• January 10, 2019

  How It Works

  How do you determine how much to save?

  We offer a Savings Planning Tool that will help you determine how much to save based on your specific scenario and savings goals. It’s important to remember, when deciding how much to save, focus on what you can afford. You may want to, but you don’t have to save for…

  Read More

• January 10, 2019

  How It Works

  How does the Florida 529 Savings Plan work?

  The Florida 529 Savings Plan allows you to develop your own plan to save for college and K-12 education. You decide how much you want to save and when you want to save. You also get to choose how you want to invest your savings using the investment options offered…

  Read More