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Florida Prepaid launches two Summer Incentives to encourage families to explore 529 Savings Plans

May 18th, 2023 · Leave a Comment

Encouraging families to save early and consistently with a flexible, tax-free option that fits their budgets, the Florida Prepaid College Board is offering families two incentives this summer around their nationally recognized Florida 529 Savings Plan.

First, Florida Prepaid will contribute $50 into every Florida 529 Savings Plan account opened between May 1 and June 30, 2023.

The Florida 529 Savings Plan is an investment plan that can be used nationwide for qualified education expenses, including tuition, fees, room, board, books and supplies. Families can build their own investment portfolio using the simple, intermediate or advanced investment strategies, and investment earnings are tax-free.

The second summer incentive is a scholarship program in partnership with Florida State Parks. The Exploring Education Scholarship Program allows families to explore Florida’s award-winning state parks through the Junior Ranger Program, while entering to win one of 10 grand prizes.  Each grand prize winner will receive a $1,000 Florida 529 Savings Plan Scholarship and a summer-friendly Florida State Park prize pack that includes an inflatable standup paddleboard.

The Florida 529 Savings Plan is a Morningstar medal-winning plan and is available exclusively to Florida residents.  The Savings Plan allows families to save what they can when they can, or they can set up automatic monthly payments for as little as $25/month.  There are now more than 130,000 Florida 529 Savings Plans opened with a market value of more than $1 billion. To learn more, visit myfloridaprepaid.com.

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