Trenton, NJ – Governor Chris Christie has proclaimed May 29, 2010 as the NJBEST 529 College Savings Day. Enacted by the Legislature in 1997, the NJBEST program provides an effective vehicle for New Jersey families to begin saving for their children’s college expenses. Administered by the New Jersey Higher Education Student Assistance Authority (HESAA), and managed by Franklin Templeton Investments, NJBEST offers more than 18 age- and risk-based portfolios. Over the last several years, NJBEST has been one of the fastest growing 529 college savings plans in the nation. Ranked number one by Barron’s for overall fund family performance, Franklin Templeton continues to provide sound investment opportunities for NJBEST investors.
New Jersey leads the nation in the percentage of students who graduate high school. Of those who graduate, it is expected that more than 86% will attend college. “A college education is the key to our children’s success, and the foundation for New Jersey’s outstanding workforce,” said Michael Angulo, Executive Director of HESAA. NJBEST is the only 529 plan in the country to also offer a scholarship of up to $1,500 for qualified participants. “At no cost to taxpayers, to date, more than 1,300 students have benefited from scholarships totaling nearly $900,000,” explained Director Angulo.
As the cost of a college education continues to increase and the value of financial aid dollars diminish, it will become more important for families to begin planning and saving for their children’s education as early as possible. Information about investing in a 529 plan is available at www.njbest.com or from your local financial planner.
Since 1959, HESAA, a non-profit, state designated Authority, has delivered over $18 billion in financial aid. Each year, over 1 million students receive assistance from outreach programs and aid programs HESAA administers including Tuition Aid Grant (TAG), the Part-time TAG for County College Students, NJSTARS and II, the Garden State Scholars programs, the Federal Family Education Loan program, NJCLASS, and NJBEST. For additional information about HESAA please visit our website at www.hesaa.org or call our Customer Care Center at 609-584-4480.