NEW: Florida 529 Savings Plan Scholarship Program – 10 Students Will Win!

This post is sponsored by the Florida Prepaid College Board, through my role as a Believer Blogger. All thoughts are my own.

I’ve got yet another reason for you to love the Florida Prepaid College Program!

The Florida Prepaid College Board is introducing a new scholarship program – 10 winners will be awarded a $529 scholarship!!! The scholarship money will be deposited into a Florida 529 Savings Plan account. Families can enter to win one of these scholarships between May 1 and May 29, 2016 (529 College Savings Day) at http://www.florida529savingsplanscholarship.com/.

So what exactly is a 529 Savings Program, and how does it work? Unlike the Prepaid Plans, the Florida 529 Savings Plan does not have a set payment amount or schedule. Accounts can be opened at any time, and a family can contribute as much and as often as desired. And for the first time ever, the Florida Prepaid College Board has removed the minimum contribution to open a Florida 529 Savings Plan, paving the way for even more families to save for college.

The biggest difference between the two types of plans is that a Florida 529 Savings Plan is subject to fluctuations in the financial market, whereas a Florida Prepaid Plan is guaranteed by the State of Florida. The Florida Prepaid College Program offers 11 different investment strategies, including an age-based option that becomes more conservative as the student nears college age. You can click HERE to learn more about the Florida 529 Savings Plan and all of the available investment options.

Don’t miss out on the opportunity to win a $529 scholarship for your student! Just visit http://www.florida529savingsplanscholarship.com/ between now and 5/29/16 to enter. Winners will be randomly selected from among all eligible entries on June 1, 2016 at 3:00 p.m. Eastern time. (Some restrictions apply. You must be a legal resident of the state of Florida and over the age of 18 to enter. Please seen the website for complete details and requirements.)

Good luck!!!