Florida 529 Savings Scholarship Program

Did you know that May 29th is 529 College Savings Day?

Much like May the 4th is Star Wars Day, 529 College Savings Day is a fun play on words! 529 can of course be written as 5-29, or May 29th. Hehe. Get it? I love it.

Well, this year Florida is launching the Florida 529 Scholarship Program.  

The Florida 529 Savings Plan Scholarship Program will award 10 winners a $529 Scholarship deposited into a Florida 529 Savings Plan account.

Families can enter to win a Florida 529 Savings Plan Scholarship between May 1 and May 29, 2016, enter HERE

But wait, there is MORE!!!

Beginning this May, there is no minimum contribution to open a Florida 529 Savings account, and there are no application fees. This makes the Florida 529 Savings Plan one of the most affordable ways for families to save for college. The Florida 529 Savings Plan was a Top 10 performer among direct-sold 529 plans for the 3-year, 5-year and 10-year time periods in Savingforcollege.com latest quarterly performance rankings.

 

The Florida 529 Savings Plan lets families save at their own pace for college expenses, from tuition and fees to housing and books.  A family can contribute as much and as often as desired, and accounts can be opened at any time.

We have 3 Florida Prepaid accounts but NO 529 plan. Perhaps this is the year that we open one for those unexpected college expenses!

 

Do you have both a Prepaid college account and a 529 plan?

 

Florida Prepaid College Plans #StartingisBelieving

Open enrollment for the Florida Prepaid College plans for 2015-2016 begin on October 15th, 2015. Start saving for your child’s education and future NOW. I am a proud Florida Prepaid College Plan Believer. All though this post is sponsored, all opinions are my own. #StartingIsBelieving

It's hard to believe that 6 years ago the #TampaTrio started school. Ronin was in PreK3, Ella in PreK4, and Haley in Kindergarten.

Even though this was their first year in school, James and I had already started their college funds just a few short months after each of them were born, so they started elementary school with a Florida Prepaid College plan already in place. 

Fast forward 6 years to the start of the 2015-2016 school year. 

Ronin is now in 4th grade and wants to be an ER doctor, Ella is in 5th grade and wants to be a veterinarian, and Haley in 6th grade wants to be an archeologist.

Thank goodness I enrolled them in the Florida Prepaid College Plan because all three of their career choices certainly require college, A LOT of college.

 

There are five Prepaid Plans, each with specific costs, payment schedules and benefits which all include tuition and most fees at either one of 28 Florida Colleges or 12 State Universities. Though each option is designed to be used at a Florida College or State University, the amount covered by the plan can also be applied to other schools nationwide. So as much as I want my Trio to stay close to home (forever and ever) I know that it's likely that they might desire to spread their wings and head to college out of state. Thankfully the plans can be applied to schools outside the Sunshine State.

There are only certain times during each year that you can enroll your child in the plans.  For 2015-2016, open enrollment is Oct. 15, 2015 – Feb. 29, 2016.

The cost of the plans vary depending on how old your child is and which of the 5 plans you choose.

For a NEWBORN these are the current MONTHLY rates:

4-Yr Florida University Plan $182.63

1-Yr Florida University Plan $45.69

2 + 2 Florida Plan $144.35

4 Yr College Plan $114.69

2 Yr College Plan $53.13

 

Once you enroll and get your account set up you can increase your monthly payment at ANY time simply by logging into your account and making a payment. It can be a one time payment or a recurring payment. This is a great option for grandparents that might be looking to help out. We did it for Ella when she was awarded some money earlier this year. It was so easy for me to go online and make a one time payment, and then the rest of our monthly payments will be the same as they were, we will just finish her payoff sooner, rather than later. 

 

If you have ANY questions about the Florida Prepaid College Plans, feel free to ask me and I'll do my best to answer them! I feel somewhat like a pro since we've had accounts for 11+ years now Smile

You can also reach out to their amazing customer service team at 1800552GRAD (4723) and they will answer any and all questions you may have.

You can also check out Florida Prepaid College Plans online and figure out which plan is just right for your future college student!