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Fees
Q. What does it cost to open an account?
A. There is a one-time,
nonrefundable $50 application fee. The application fee
is discounted for current customers who already have a
Florida Prepaid College Plan for the same beneficiary
($30 application fee) or if you are opening a Florida
College Investment Plan and a Florida Prepaid College
Plan for the same beneficiary at the same time ($80
total application fee).
You must also include an initial contribution of at
least $250 with your application or set up a recurring
automatic payment of at least $25. You may contribute as
much as you want, up to the current maximum contribution
amount.
Q. Will I pay commissions, sales charges or management
fees?
A. You will pay no commissions or
sales charges for the Florida College Investment Plan. There is a
one-time application fee and a low annual
administration fee of just ¾ of 1 percent (75 basis points) of
your account balance. So, for every $1,000 in your account,
you will pay only $7.50 a year.
Q. Are there any other fees?
A. Yes.
- Cancellation Fee - $50 fee to voluntarily
close (cancel/terminate) your account.
- Insufficient Funds Fee - $20 fee if a
check or automatic contribution is returned for insufficient
funds.
- Rollover Fee - $50 to transfer your Florida College
Investment Plan to another 529 plan.
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