The Maximum Account Balance shall be calculated by multiplying the Qualified Higher Education Expenses, including tuition fees, room and board, and supplies, at the most expensive Eligible Educational Institution, by seven (7), and rounding the resulting product downward to the nearest $1,000.00 increment. In determining the Qualified Higher Education Expenses at the most expensive Eligible Educational Institution, the Board will consult the figures compiled by the College Board and published in the annual College Handbook which is found at the College Board’s website (www.collegeboard.com). The Maximum Account Balance shall not exceed the amount permitted pursuant to Section 529 of the Code.
Rulemaking Authority 1009.971(1), (4), (6) FS. Law Implemented 1009.971, 1009.98, 1009.981 FS. History-New 12-28-21.