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NJBEST Scholarship

The NJBEST Scholarship provides a tax-free scholarship to beneficiaries of an NJBEST 529 College Savings Plan provided the beneficiary attends a college in New Jersey and the account has been open at least four years and contributions are $1,200 or greater.

 

Benefits

The minimum scholarship amount is at least $500 and requires contribution of $1,200 or more and the account to be open at least four years. The amount of the scholarship increases by $250 for every two additional years and $600 in additional contributions, up to a maximum amount of $1,500, depending of the number of years and level of contributions. 
See chart below:

 

Contributions

Full Years Account Open

Scholarship Amount

$1,200

4

$500

$1,800

6

$750

$2,400

8

$1,000

$3,000

10

$1,250

$3,600

12

$1,500

 

Eligibility

  • Student must be a beneficiary of a NJBEST 529 College Savings Plan opened for at least four years.
  • Total contributions to the NJBEST 529 plan must be equal to at least $1,200.
  • The contributor must have made a withdrawal for qualified education expenses from the NJBEST account for which the student is beneficiary.
  • Either the student or contributor must be a New Jersey resident at the time of college attendance
  • Student must be enrolled at least half-time in an eligible New Jersey higher education institution.
  • The scholarship may be awarded only once to an eligible Beneficiary and only for the Beneficiary’s first semester of attendance at any institution of post-secondary education.

Participating Institutions

Students must attend an approved New Jersey college, university or degree-granting proprietary school.

 

How Do I Apply

NJBEST Scholarship deadlines are December 1st for the Fall semester and May 1st for the Spring semester. 2017-2018 applications will be available after June 1st. 

IMPORTANT! All applicants (the student, not the contributor) must register for a user ID and password to apply. 

Apply/View Online

 

Other Resources You May Find Useful

NJBEST 529 College Savings Plan-New Jersey Investors Handbook

 

NJBEST Scholarship FAQs

 

Need Additional Information?

Call our Customer Care Center: 609-584-4480
Monday thru Thursday 8:00 am until 8:00 pm

Friday 8:00 am until 5:00 pm

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