Florida Prepaid College Board

What Florida Prepaid College Board does

Florida Prepaid College Board is a state government agency of Florida, established in 1987 by Stanley G. Tate, that administers the nation's largest state-sponsored prepaid 529 college savings plan. It serves more than 1.3 million Florida families, and over 653,000 students have attended college using its plans. The agency operates two products: the Florida Prepaid Plan, which locks in tuition and dormitory costs at today's prices through fixed monthly subscription payments or lump-sum purchases, and the Florida Investment Plan, a 529 savings vehicle with no minimum contribution and a $500,000 maximum balance per beneficiary. Plan benefits are accepted at more than 370 colleges and universities nationwide, and balances are guaranteed by the state under Section 1009.98(7), Florida Statutes.

The Florida Investment Plan's portfolios are managed by Vanguard, DFA, BlackRock, Wellington, Eaton Vance, and Florida Prime, with Aon serving as investment consultant; the agency does not itself run proprietary investment technology. The Board's governance structure is statutory: seven members comprising the CFO, Attorney General, Chancellor of the Board of Governors, Chancellor of the Division of Florida Colleges, and three gubernatorial appointees. A nonprofit subsidiary, the Florida Prepaid College Foundation (established 1989), has awarded more than 60,000 scholarships and supported over 37,500 students attending college.

As a state agency, Florida Prepaid College Board does not operate on a commercial revenue model. Its FY 2026-2027 operating budget totals $65.5 million, comprising $5.4 million in salaries and benefits and $59.6 million in other personal services. Recent strategic moves include the 2025 brand relaunch and CAMP platform migration, and the 2026 launch of year-round Prepaid Plan enrollment. The Florida Investment Plan reached $2 billion AUM across more than 200,000 accounts in 2026, doubling from the $1 billion milestone in 2021.

Name

Florida Prepaid College Board

Legal name

Florida Prepaid College Board

Website

https://myfloridaprepaid.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

11–50 employees

Short description

Florida Prepaid College Board is a Florida state agency operating the nation's largest prepaid 529 college savings plan, serving 1.3 million+ families with tuition lock-in, dormitory prepayment, and investment savings options accepted at 370+ schools.

Ownership category

akta.pro rank

Product category

529 College Savings Plans

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Savings Institutions and Other Depository Credit Intermediation (52218), Depository Credit Intermediation (5221)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Education Funding Planning (College/529) (FSAEAAAF)

akta.pro secondary industries

Payments, Cashiering & Payment Plans (EDALAJAE), In-School Tuition & Fee Financing (Short-term/Bridge) (FSAKAEAG)

Keywords

• 529 college savings plans
• Prepaid tuition programs
• Education savings vehicles
• Investment savings plans
• State-backed education benefits

Headquarters

HQ city

Tallahassee

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Prepaid 529 Plan - Monthly Payments: Fixed monthly payments for prepaid tuition and dormitory plans. Payments are determined at enrollment based on student age and never increase once enrolled. Plans purchased in 1-year increments (30 credit hours for tuition, 2 semesters for dormitory).
2. Prepaid 529 Plan - Lump Sum: One-time payment option available for Prepaid Plans at enrollment.
3. Investment 529 Plan - Contributions: No minimum contribution required. Contributions can be made anytime with no annual contribution limit until account reaches $500,000 maximum balance. No adviser fees, sales commissions, or annual account fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Florida Prepaid College Board sells 529 college savings plans to Florida families and nationwide investors, offering the Prepaid 529 Plan (Tuition and Dormitory) that locks in today's tuition and dormitory prices at fixed monthly payments guaranteed by the State of Florida, and the Investment 529 Plan that provides flexible, tax-free investment-based savings managed by professional asset managers. Plans can be used at any eligible educational institution nationwide and include interactive planning tools and self-service account management through the CAMP portal.

Product overview

Florida Prepaid College Board operates two complementary 529 college savings products under a single program: the Prepaid 529 Plan (comprising the Prepaid 529 Tuition Plan and the Prepaid 529 Dormitory Plan), which lets families lock in tomorrow's college costs at today's fixed prices with no market risk and a State of Florida guarantee; and the Investment 529 Plan (formerly Florida 529 Savings Plan, rebranded 2025), which offers flexible, market-based investing for a wide range of higher education and K-12 expenses with tax-free growth. Both plans can be used separately or in combination, and are managed through an online customer portal (CAMP). The Prepaid plans are risk-free and guaranteed by the State of Florida; the Investment plan is not guaranteed. The program also includes an affiliated scholarship foundation. Built around three investment strategy tiers (Simple/Enrollment Year, Intermediate/Static Portfolios, and Advanced/Individual Funds), the Investment Plan offers 16+ portfolio options managed by professional investment managers including Vanguard, DFA, BlackRock, Wellington, and Eaton Vance.

Differentiator

Problem solved

Functional benefit

Brands

• Prepaid 529 Plan: Specialized 529 Plan that allows families to secure tomorrow's college tuition or dormitory at today's prices with risk-free, guaranteed coverage.
• Dorm 529 Plan
• Investment 529 Plan

Products and services

• Prepaid 529 Plan (Stanley G. Tate Florida Prepaid College Program) A specialized 529 plan allowing families to prepay tomorrow's college tuition and optional dormitory housing at today's prices with fixed monthly payments that never increase. Plans are guaranteed by the State of Florida and carry no investment risk, protecting against rising tuition costs for Florida families with students from newborn through 11th grade.
• Prepaid 529 Tuition Plan Covers tuition and most fees in 1-year increments (30 credit hours) at Florida public colleges and universities, with plan value transferable to schools nationwide. Plans are risk-free and protected by the State of Florida guarantee.
• Prepaid 529 Dormitory Plan Covers standard double-occupancy dormitory housing in 1-year increments (2 semesters) at Florida state universities. Plan value may also be applied to university-held housing nationwide, including fraternity/sorority housing. Guaranteed by the State of Florida.
• Investment 529 Plan (Florida Investment 529 Plan) A flexible investment-based 529 plan for saving toward a wide variety of higher education and K-12 expenses, available nationwide with no Florida residency requirement. Earnings grow tax-free; account holders choose and manage their own investment options from a curated set of portfolios and individual funds. Value is not guaranteed and subject to market conditions.
• Enrollment Year Portfolio The most popular investment option (chosen by over 80% of new families). A professionally managed portfolio that automatically adjusts asset allocation from aggressive to conservative as the student approaches college age. Annual fee of 0.05-0.10% (5-10 bps).
• Multi-Manager Growth Portfolio A static multi-manager portfolio seeking meaningful long-term capital growth across diversified active and passive investments (Global Equity, Domestic Equity, International Equity, High Yield, Emerging Debt, Bank Loans). Annual fee 0.19% (19 bps).
• Multi-Manager Blended Portfolio A static multi-manager portfolio seeking a balance of capital appreciation and current income across diversified investments. Annual fee 0.13% (13 bps).
• Multi-Manager Income Portfolio A static multi-manager portfolio focused on current income through diversified investments including High Yield, Emerging Debt, Bank Loans, Core Fixed Income, and TIPS. Annual fee 0.21% (21 bps).
• Passive Growth Portfolio A passive static portfolio seeking long-term capital growth through diversified passive investments (50% Domestic Equity, 40% International Equity). Annual fee 0.06% (6 bps).
• Passive Blended Portfolio A passive static portfolio seeking capital appreciation and current income through diversified passive investments (31% Domestic Equity, 25% International Equity, 38% Core Fixed Income). Annual fee 0.05% (5 bps).
• Passive Income Portfolio A passive static portfolio focused on current income through diversified passive investments (70% Core Fixed Income). Annual fee 0.07% (7 bps).

Quantifiable outcome

• Parents with a 529 Plan save 3x more than those without
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eight partnerships are on record, tiered core.

• VanguardcoreTechnology or IntegrationVanguard serves as investment manager for multiple funds in the Investment 529 Plan including Domestic Equity, International Equity, High Yield, Core Fixed Income, TIPS, Small/Mid Cap Equity, Real Estate Index, and Social Index Funds. Selected through strategic competitive selection process.
• Dimensional Fund Advisors (DFA)coreTechnology or IntegrationDFA manages Global Equity components of Multi-Manager Growth and Blended Portfolios, and the Global Equity Fund. Selected for investment philosophy, performance history, and organizational experience.
• BlackrockcoreTechnology or IntegrationBlackrock manages the Developed International Equity Fund through its Advantage International Fund.
• Wellington ManagementcoreTechnology or IntegrationWellington actively manages the Core Plus Fixed Income Fund seeking broad exposure to investment grade fixed income securities.
• Eaton VancecoreTechnology or IntegrationEaton Vance manages the Bank Loans Fund providing diversified exposure to the floating-rate loan market.
• Florida PrimecoreTechnology or IntegrationFlorida Prime manages the Money Market Fund providing safety, liquidity, and competitive returns with minimization of risks.
• AoncoreTechnology or IntegrationAon serves as the Board's investment consultant, computing investment returns for the Investment 529 Plan options.
• Florida Prepaid College FoundationcoreStrategic or Co-development PartnerThe Foundation was established to provide higher education pathways for Florida students who cannot otherwise afford educational aspirations. Has awarded 60,000+ scholarships. Part of the same ecosystem managed by the Board.

Scale indicators10 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Utah Educational Savings Plan (UESP): UESP is the largest 529 plan by AUM in the U.S. and offers multi-manager investment options similar to Florida Prepaid's Investment 529 Plan. It competes directly for nationwide college savers with a strong investment-manager lineup and low fees.
• Michigan Education Savings Program (MESP): Michigan's MESP is a state-administered 529 savings plan with multi-manager investment options, directly comparable to Florida Prepaid's Investment 529 Plan in product structure, target audience, and fee tiering.
• Virginia529: Virginia529 is a state-administered 529 plan offering both prepaid (in-state) and investment options, structurally similar to Florida Prepaid with comparable products, state guarantee mechanisms, and target audience of families saving for college.
• ScholarShare 529 (California): California's ScholarShare 529 is a state-administered 529 plan offering both direct-sold and advisor-sold investment options, competing directly with Florida Prepaid's Investment 529 Plan for the largest U.S. state pool of college savers.
• Bright Start (Illinois): Bright Start is a state-sponsored 529 plan offered by the State of Illinois with comparable investment options, similarly targeting in-state families with a state-tax-advantaged primary offering and a national investment plan.
• New York's 529 (NY529): New York's 529 program (administered through Ascensus) offers direct-sold and advisor-sold 529 plans, competing with Florida Prepaid's Investment 529 Plan for the same national audience of college savers.
• Bright Directions (by BNY Mellon): Bright Directions is an advisor-sold 529 plan offered through multiple state sponsors, providing an institutional distribution channel and investment lineup that competes with Florida Prepaid for higher-balance accounts.
• Schwab 529 College Savings Plan: Schwab's national 529 plan offers low-fee investment options and direct-to-consumer enrollment, competing with Florida Prepaid's Investment 529 Plan for the same nationwide college-saver demographic.
• Vanguard 529 College Savings Plan: Nevada-sponsored Vanguard 529 is a national direct-sold 529 plan leveraging Vanguard's passive fund lineup, competing head-to-head with Florida Prepaid's Investment 529 Plan on fees and investment options for the same Florida and national audiences.

Emerging players

• Private College 529 Plan: Private College 529 is a unique prepaid-tuition-style 529 plan specifically for private colleges, offering a tuition-lock guarantee analogous to Florida Prepaid's Prepaid Plan but limited to a consortium of private institutions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC_ShPKZlAvsP5bdDZwuvsrg
• Facebookfacebook.com/FloridaPrepaid
• LinkedInlinkedin.com/company/floridaprepaid
• Instagraminstagram.com/myfloridaprepaid
• Xx.com/floridaprepaid

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Florida Prepaid College Board