College Savings

College savings planning across Tampa Bay

Wesley Chapel, FishHawk, and New Tampa are some of the fastest-growing young-family corridors in the metro, and a lot of those households are trying to decide between the Florida Prepaid College Plan and a standard 529 investment account, or whether to do both. The two work differently: Florida Prepaid locks in future tuition at today's rates, a 529 investment account grows with the market and covers a wider range of costs. We match you with a planner who lays out the actual tradeoffs for your family instead of defaulting to whichever one a school fair booth happened to be pushing.

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Parent and financial planner reviewing college savings account options for a child

What's included in this service?

Ask about your child's age, your savings timeline, and what schools you are considering
Match you with a planner who can compare Florida Prepaid and 529 investment accounts side by side
Confirm the planner explains contribution limits, gifting rules, and account ownership clearly
Connect you directly so the planner can help set up and fund the right account
Follow up to confirm the plan actually got set up
Never sell a specific 529 investment product ourselves

When do you need this service?

You have a new child or grandchild and want to start saving before costs compound further
You are deciding between Florida Prepaid and a 529 investment account and want the real tradeoffs
Grandparents or other family members want to contribute and need to understand gifting rules
Your child is a few years from college and you want to check whether the account allocation still makes sense
You want to know what happens to unused 529 funds if your child does not attend a traditional four-year school

What do people ask about College Savings?

What is the difference between Florida Prepaid and a 529 investment plan?

Florida Prepaid lets you lock in tuition and fees at Florida public colleges at today's rates, paid over time, protecting against future tuition inflation at those specific schools. A 529 investment account is a general-purpose education savings account that grows based on market performance and can be used at any accredited school nationwide, including for room and board. A planner can walk through which fits your family's plans.

Can I use a 529 plan if my child goes to school out of state?

Yes, 529 investment account funds can be used at any accredited college or university nationwide, not just in Florida. Florida Prepaid specifically covers Florida public institutions at the locked-in rate, though many Prepaid plans can still be applied toward out-of-state or private schools at a reduced value. A planner can explain exactly how that conversion works for your specific plan.

What happens to 529 funds if my child gets a scholarship or does not go to college?

Unused 529 funds can be used for a sibling, other qualifying family members, or under SECURE 2.0, a portion can be rolled into a Roth IRA for the beneficiary under specific conditions and lifetime limits. Withdrawing funds for non-education expenses is possible but the earnings portion is subject to income tax plus a 10 percent penalty. A planner can walk through current rules and limits.

How much can grandparents contribute to a 529 plan?

Contributions count toward the annual gift tax exclusion, and 529 plans allow a special election to front-load up to five years of gifting into a single year without triggering gift tax, subject to current IRS limits. A planner or CPA can confirm the exact current-year figures, since IRS limits adjust annually.

Does a grandparent-owned 529 account affect financial aid?

Under current federal financial aid rules, distributions from a grandparent-owned 529 no longer count against a student's aid eligibility the way they used to under the old FAFSA formula, but the rules around account ownership and timing still matter and change periodically. A planner can walk through the current-year treatment before you decide who should own the account.