529 Plan VERSUS Prepaid

We live in Florida and currently have a Freshman in High School and a 16 month old. We hear from our friends and family with college bound children "I wish we would have done Florida PrePaid." After obviously ignoring this for years, we are finally trying to do it before "it's too late" for both children.

Does anyone have recommendations on which plan to go with for each child? I once did the pros and cons on a whiteboard and it seemed like 529 was better.

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Move to Georgia and qualify for Hope. Have to ask, HS Freshman and a 16th month old? What were you thinking? You were this close!

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Hey, I know a fella that had a freshman in college, freshman in Highschool and a freshman in middle school. They ended up having another baby.

Is Florida prepaid one of those where it’s only good for Florida state schools?

(Copy & Paste)

No. While Florida Prepaid Plans are designed to be used at a Florida College or State University, the plans can also be applied at other schools nationwide. Plans can be used at in-state, out-of-state, public or private schools around the country – or even the world. With your Florida Prepaid Plan, the value we pay to other schools is the same as we would have paid to a Florida school

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Florida has bright futures, so if your children are showing signs of intelligence they will likely qualify for at least 75% tuition. I’m a bright futures recipient, and I used that to pay for tuition, and then had a 529 for living. I liked having the 529. My roommate had florida prepaid and I know it felt more restricting for her based on living requirements because she felt like she had to live in the dorm her second year but she also had bright futures

529 for the 6 month old since it has time to grow overtime.

Not too sure about the high-school freshman since I don't know a ton about the Florida Prepaid plan. Is it tax deferred growth? Or just that what you pay now is locked in for the future?

Pre-paid and 529 (small amounts) for 16 month old
If you see signs of freshman qualifying for bright futures or not 529 or other investing would be same unless you are getting any tax credit for 529 in FL

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