Grows Tax-Free - With the Florida College Investment Plan, your investment grows tax-deferred, and when the student is ready for college, withdrawals for qualified college expenses are exempt from federal income tax. Earnings on your account are also exempt from State of Florida taxes.

Choice of Investment Options - The Florida College Investment Plan offers you five different investment options that vary in strategy and risk. You can select one or any combination of investment options that best fit your financial goals.

Start With Just $25 a Month  - If you make automatic contributions from your bank account or if your employer offers payroll deduction, the minimum contribution is only $25 monthly. Or you can make a minimum one time contribution of $250.

Save As Much As You Need - The Florida College Investment Plan will help you save as much as you need, whether for a two-year community college, a four-year university or even medical school. Different account owners can open separate accounts for the same beneficiary (student). You can contribute up to $341,000 per beneficiary. Once the total value of all accounts for the same beneficiary reaches $341,000, you cannot make any new contributions, but the market value of the accounts can continue to grow.¹

Choice of Colleges - The Florida College Investment Plan can be used at any public or private accredited university, community college or technical school, anywhere in the country, and even at some schools abroad. Click here for a list of Approved Colleges.

Use For Any Qualified College Expense - You can use your Florida College Investment Plan for any qualified college expense including tuition, fees, room and board, books, supplies, computers and equipment required by the college, and graduate school. If you decide to make a withdrawal for something other than a qualified college expense, you will be required to pay federal income tax and an additional 10 percent federal tax on the earnings.²

Estate Planning and Gift Tax Benefits - Federal law allows you to contribute up to $55,000 in a lump-sum amount per beneficiary (student) or up to $110,000 for married couples in one year, without incurring any gift taxes. While other contributions within five years will be subject to the gift tax, your account can continue to grow and is no longer considered an asset in your federal taxable estate. Withdrawals for qualified college expenses are not a taxable gift.³

Rollovers - You can rollover another 529 college savings plan, a qualified U.S. Savings Bond, a Coverdell Education Savings Account or transfer an UTMA/UGMA to the Florida College Investment Plan without penalty.

You Control Your Money -You can withdraw money from your account at any time, and you control how to spend the money. The money in your account must be used for qualified college expenses, or you will be subject to federal income tax and an additional 10 percent federal tax on the earnings.

No Commissions, No Sales Charges -You will pay no commissions or sales charges for the Florida College Investment Plan. There is a one-time application fee and a low annual management fee to cover the cost of investment and administrative services. The management fee is just ¾ of 1 percent (75 basis points) of your account balance. So, for every $1,000 in your account, you will pay only $7.50 a year.

No Income, Age or Residency Requirements -There are no income limits. You can open an account for anyone, including yourself. And there are no residency requirements, giving grandparents another way to save for college for their grandchildren who may live out of state.

¹ The current value of all Florida Prepaid College Plan accounts and the current market value of all Florida College Investment Plan accounts combined for the same beneficiary cannot exceed the maximum account limit.

² The account owner is responsible for reporting all withdrawals to the IRS. The earnings portion of withdrawals due to beneficiary death, disability or scholarship is subject to federal income tax but is generally not subject to the additional 10 percent federal tax. Refer to the Florida College Investment Plan Disclosure Statement.

³ The federal gift tax exclusions are periodically adjusted for inflation. If a contributor makes a lump-sum gift and dies before the end of the five-year period, the money may remain in the Florida College Investment Plan, but a portion of the contribution may be subject to federal estate taxes. Consult your own tax advisor.

The Florida College Investment Plan is not a prepaid plan. Investments in the plan are not insured or guaranteed, and you could lose all or a portion of your investment. Participation in the plan will be sold only by means of a Disclosure Statement and Participation Agreement. A copy of each will be sent to you upon request; you should read them before investing. Nothing in this Web site should be construed as financial, investment, legal or tax advice. Consult your own advisors before investing.