Florida 529 College Savings Plan
About: The Florida 529 Savings Plan offers 11 different investment options to help grow your college education savings: from aggressive to conservative, from age-based to customized, or any combination. Instead of utilizing mutual funds, the Florida Prepaid College Board hires various money management firms to manage the separate investment pools, which are available as either static portfolios or as part of an age-based strategy.
Phone #: 1-800-552-4723
Investment Options: My Florida Prepaid offer three diversified, pre-designed portfolios with underlying investment allocations options. The Age-Based / Years-To-Enrollment Option contains 5 age bands. There’s also a two investment portfolios (Blended Equity and Balanced Portfolios) and 8 single investment funds. Investment portfolios are separately managed by Columbia Management Investment Advisers LLC, AllianceBernstein, Silvant Capital Management LLC, Quantitative Management Associates LLC, The Boston Company Asset Management LLC, Fiduciary Management Inc., PanAgora Asset Management, Inc., and Federated Investors, Inc.
Tax Benefits: Not applicable. Florida does not have a personal income tax.
State Residency Requirements: No state residency is required to participate in Florida 529 College Savings Plans.
Saving for College with Upromise
Upromise is a service that helps individuals save money to pay for college or to pay down existing student loan debt.
Upromise is a great way to save through partnerships with retailers. Similar to a cash back rewards card, this plan puts rewards from retailers into an account that you can use to save money for school or paying down current Sallie Mae serviced student loans.
Once you join Upromise, you simply have to shop at eligible retailers. You can shop online and get anywhere from 1$ to 25% back that is credited to your account. There are more than 600 online retailers, including Target and more, which will give you rewards that can be used for college and tuition expenses.
The beauty of the Upromise program is that you save money for college by simply shopping at the normal stores you visit every day. Upromise was created in partnership with Sallie Mae and is designed to help save for education costs.