Florida Prepaid College Board

The Florida Prepaid College Board administers two Qualified Tuition Programs ($15 billion) for the State of Florida pursuant to Section 529 of the Internal Revenue Code: the Stanley G. Tate Florida Prepaid College Program and the Florida 529 Savings Program. The Prepaid Program allows Florida families to prepay the cost of college tuition, required fees, and dormitory housing at a state college or university in Florida at a price lower than the projected future cost of enrollment. The Savings Program allows families nationwide to invest for future higher education expenses. The Board, an agency of the State of Florida created by Section 1009.97, Florida Statutes, has seven members who establish policy and monitor performance for the Prepaid and Savings Programs. The Board is administratively housed within the State Board of Administration (SBA) but exercises its powers independently. Section 1009.986, Florida Statutes, provides that the Florida ABLE Savings Program (Florida ABLE) shall be operated through Florida ABLE, Inc., a direct support organization of the Board. Florida ABLE (marketed as ABLE United) is a new savings program for individuals with disabilities to save tax-free without affecting eligibility for federal benefits. Section 1009.983, Florida Statutes, creates the Florida Prepaid College Foundation to administer the Florida Prepaid Tuition Scholarship Program. The Florida Prepaid Tuition Scholarship Program is established to provide economically disadvantaged youth with prepaid postsecondary tuition scholarships. For more information, please visit MyFloridaPrepaid.com, ABLEUnited.com and FloridaPrepaidCollegeFoundation.com.