Florida 529 Plan Savings Calculator
Estimate how a 529 plan investment grows over time for Florida residents
Florida Calculator
Get accurate results
Updated for 2025 with real Florida rates, brackets, and regulations
Florida families have two powerful education savings options: the Florida 529 Savings Plan and the Florida Prepaid College Plan. While there's no state tax deduction (since there's no income tax), both offer federal tax-free growth. Florida Prepaid is uniquely popular — it lets families lock in today's tuition rates at any Florida public college or university. The 529 plan offers more flexibility with investment choices and can be used at any accredited school nationwide. Our calculator compares both options and projects your education savings growth.
Calculate Your FL Tax
529 Value at Age 18
$70,634
Total Contributed
$46,800
Investment Growth
$23,834
Target College
University of Florida
Target Cost (4yr, inflated)
$135,340
Coverage
52.2%
Shortfall
$64,706
Monthly to Fully Fund
$575/mo
FL Prepaid (est.)
$180/mo
Breakdown
Insight
Contributing $300/month for 13 years at 6% returns grows to $70,634 — covering 52% of projected University of Florida costs. Florida offers TWO unique 529 options: (1) The FL 529 Savings Plan for flexible investing, and (2) The Stanley G. Tate Florida Prepaid College Plan — unique in the US — which lets you lock in TODAY's tuition rates. Since FL has no state income tax, there's no state tax deduction for either plan, but federal tax-free growth applies. You need $575/month to fully fund. Consider the Prepaid Plan at ~$180/month to guarantee tuition coverage regardless of future increases. The Prepaid Plan is backed by the state of Florida.
AI Explanation
What This Means
Based on default inputs, the Florida 529 Plan Savings Calculator shows a 529 value at age 18 of $70,634. Key figures: Total Contributed: $46,800, Investment Growth: $23,834, Target College: University of Florida, Target Cost (4yr, inflated): $135,340, Coverage: 52.2%, Shortfall: $64,706, Monthly to Fully Fund: $575/mo, FL Prepaid (est.): $180/mo.
Key Insights
Contributing $300/month for 13 years at 6% returns grows to $70,634 — covering 52% of projected University of Florida costs. Florida offers TWO unique 529 options: (1) The FL 529 Savings Plan for flexible investing, and (2) The Stanley G. Tate Florida Prepaid College Plan — unique in the US — which lets you lock in TODAY's tuition rates. Since FL has no state income tax, there's no state tax deduction for either plan, but federal tax-free growth applies. You need $575/month to fully fund. Consider the Prepaid Plan at ~$180/month to guarantee tuition coverage regardless of future increases. The Prepaid Plan is backed by the state of Florida.
What You Can Do
Enter your actual figures in the calculator above for a personalized breakdown. Consider consulting a tax professional for comprehensive planning, especially for complex situations involving multiple income sources or deductions.
Keep In Mind
This calculator provides estimates based on 2026 rates. Actual tax liability may vary based on credits, exemptions, and other factors not captured here. This is for educational purposes only and should not be considered tax advice.
How the Florida 529 Plan Savings Calculator Works
The Florida 529 Plan Savings Calculator uses 2026 tax rates, brackets, and deductions specific to Florida to provide you with an accurate estimate of your tax obligations. Unlike generic federal-only calculators, this tool accounts for the unique tax structure that Florida residents face.
Formula
529 Growth = Monthly Contribution × [(1 + r/12)^(12×years) - 1] / (r/12). Florida Prepaid: Fixed cost locks in current tuition rates. Both: Federal tax-free growth and tax-free qualified withdrawals.Simply enter your financial details above, and the calculator instantly computes your results using the latest available data. All calculations happen directly in your browser — your personal information is never sent to any server or stored anywhere.
Why Use a Florida-Specific Calculator?
State-Specific Rates
Uses real 2026 Florida tax brackets, rates, and thresholds — not generic national averages that miss state-level nuances.
Local Programs & Exemptions
Factors in Florida-specific programs, exemptions, and deductions that national calculators simply don't account for.
Instant & Private
All calculations run locally in your browser. No account required, no data stored, no waiting for results.
AI-Powered Explanations
Get a plain-English breakdown of your results with actionable insights you can actually use for financial planning.
What's Included
Prepaid vs 529 Comparison
See which Florida plan makes more sense based on your child's age and college plans.
Federal Tax-Free Growth
Both plans grow tax-free federally — and there's no state tax regardless in Florida.
Flexibility Analysis
Understand portability rules: what happens if your child goes out-of-state or gets a scholarship.
Frequently Asked Questions
What is the Florida Prepaid College Plan?
Florida Prepaid lets you purchase college tuition, fees, and dormitory housing at today's prices. Plans are available for 1-Year University, 2+2 (2 years state college + 2 years university), 4-Year University, and 2-Year State College. If your child attends a private or out-of-state school, Prepaid pays the equivalent public university amount as a credit.
Is the Florida 529 plan worth it without state income tax?
Yes. While there's no state tax deduction, the 529 offers federal tax-free growth — earnings are never taxed if used for qualified education expenses. Over 18 years, tax-free growth can save $10,000-30,000+ on a $100,000 portfolio compared to a taxable investment account. The plan can also be used for K-12 tuition (up to $10,000/year).
Florida Prepaid vs 529 — which is better?
Prepaid: Guaranteed to cover tuition at Florida public schools, zero investment risk, lower upside. 529: Flexible investments, can be used nationwide, higher potential returns but market risk. Best strategy: Prepaid for guaranteed tuition coverage + 529 for room, board, and extra expenses.
What if my child gets a Bright Futures scholarship?
If your child receives Bright Futures and has a Prepaid plan, the Prepaid benefits can be used for expenses not covered by the scholarship (housing, books, fees). If Bright Futures covers everything, Prepaid allows refund or transfer to a sibling. 529 plans can also be redirected to other qualified expenses or beneficiaries.
Can I use Florida Prepaid for out-of-state schools?
Yes, but at a reduced value. Florida Prepaid pays out-of-state schools the equivalent dollar amount it would have paid a Florida public university. Since out-of-state tuition is typically 2-3× higher, Prepaid would cover only a portion. The 529 plan offers more flexibility for out-of-state or private school use.
Important Information for Florida Residents
Tax laws in Florida can change annually. This calculator is updated regularly to reflect the latest 2026 rates and regulations, but you should always verify important financial decisions with a qualified Florida tax professional or CPA.
This tool is designed for informational and educational purposes. While we strive for accuracy using official Florida Department of Taxation data, the results should be used as estimates for planning purposes only. Your actual tax liability may differ based on credits, special circumstances, and legislative changes that occur after our last update.
For filing deadlines, payment schedules, and official forms, visit the Florida Department of Taxation and Finance website. If you have complex tax situations involving multiple states, business income, or significant investment gains, professional guidance is recommended.
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