With a lot of craziness surrounding the upcoming 2020-2021 school year I have a new promo for you! Grab this 2020 Florida 529 Savings Plan promo for up to $50 in college savings for FREE! This post is sponsored by Florida Prepaid College Savings Plans. All opinions are my own unless noted otherwise.
2020 Florida College 529 Savings Plan Details | Up to $50 FREE
We have exactly one week to choose campus learning, campus eschool, or county virtual homeschool for the 2020-2021 school year. For my family we’ve had some struggles with it for our high schooler and a very easy decision when it came to the younger two. I know the choices are not as easy for some families and it’s been a difficult adjustment that come heavy questions happening in those home right now.
No matter what choice your family makes just know that there are people out there like myself that are behind you full force knowing it’s the best choice for your family. Your kids will thrive and their future is bright with a strong support system behind them, like you!
As you probably know by now, I am a huge proponent to looking forward to the future and college savings. With Florida Prepaid Open Enrollment now over, you can still open a Florida 529 Savings Plan today to get a head start on savings.
Top 529 Savings Plan Q&A:
I know the past few months have been challenging on many levels for Florida families. But a college education remains something to look forward to in the brighter days ahead, and even the smallest amounts saved now can add up to a lot of possibility for your child’s future. Florida 529 Savings Plan used to be a bit confusing to me but this helpful FAQ list helped and it may help you as well.
- How is a 529 Savings Plan different from a Prepaid College Plan? A Florida 529 Savings Plan gives you control of the account and you get to choose how to invest to meet your budget and savings goals from day one. Opening an account is completely FREE. You choose your investment options and begin to get back earnings, tax-free. Florida Prepaid made this great side-by-side chart for a comparison of the Florida 529 Savings Plan vs. Florida Prepaid College Plan.
- What is a 529 Savings Plan? A Florida 529 Savings Plan is an investment account that provides a flexible and tax-free way to save for college and/or K-12 expenses. Investment earnings are not taxed as long as they are used for qualified education expenses, including tuition, fees, room, board, books and supplies.
- Are there different 529 Savings Plan investment options? Yes, there are currently 14 investment options available. You can build your own portfolio or choose the most popular option, the Age-Based Portfolio, which automatically adjusts over time as your child grows closer to college age.
- How long can a 529 Savings Plan be used for? There is no set time period to use your 529 Savings Plan. Also, your funds are flexible and can be transferred to another member of the student’s family.
- What if my child gets a scholarship? That’s perfect. Your 529 Savings Plan can still be used on other college costs like housing, books, graduate school, or transfer funds to another student as I mentioned previously.
- Do I need a 529 Plan if my child has a Prepaid College Plan? You can use both plans together! You can use the 529 savings plan to cover other college costs like books, supplies and housing.
- How can I use a 529 Savings Plan for my child’s K-12 education? Qualified expenses include tuition and mandatory fees associated with enrollment or attendance at an elementary or secondary public, private or religious school, up to $10,000. This is especially helpful giving the new season of life we’re all going through with COVID.
- What if my child does not to go to college? That’s what is great about a 529 Plan! You can close and withdraw the remaining balance or transfer the plan to a family member.
- We plan on moving out of state. What happens to our 529 Plan? Your Florida 529 Savings Plan travels with you! A Florida 529 Savings Plan can be used at most colleges, universities, trade and technical schools around the country.
- Who can open a 529 Plan? The Florida 529 Savings Plan is open to Florida residents only.
FREE FLORIDA 529 SAVINGS PLAN WEBINAR
Still have more questions about a 529 Savings Plan? Get your answers, for FREE! Jump into the FREE Florida 529 Savings Plan Webinar this week for more information to help you decide if a 529 Savings Plan is right for your family.
- When: July 23, 2020 at 12 pm EDT
- What: 5 things you need to know about 529 Savings Plans in a FREE 10-minute informational webinar. Answer questions you have about college savings, expenses, and financial planning for your child’s college future!
- Register: Hurry and RSVP for this FREE Florida 520 Savings Plan Webinar HERE.
2020 FLORIDA 529 SAVINGS PLAN PROMO DETAILS | UP TO $50 FREE
How does $50 FREE towards your child’s education future sound? Right now when you sign up for a new 529 Savings Plan account by August 16, 2020 Florida Prepaid will deposit $25 in your account – FOR FREE! AND if you set up automatic monthly contribution of $25 or more, you will get another $25 from Florida Prepaid into your account. That’s right, up to $50 of college savings for FREE! But you really do need to hurry because this 2020 Florida 529 Savings Plan Promo is only available now through August 16, 2020. You can sign up for a 5290 savings plan at any time but you really need to take advantage of this exclusive 2020 529 Savings Plan Promo at MyFloridaPrepaid.com/529summersavings/ before it’s gone.