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.
The minimum scholarship amount is at least $1,000 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 $500 for every two additional years and $600 in additional contributions, up to a maximum amount of $3,000, depending of the number of years and level of contributions.
See chart below:
Full Years Account Open
Students must attend an approved New Jersey college, university or degree-granting proprietary school.
How to Apply
The 2021-2022 NJBEST Scholarship application will be available in NJFAMS after June 1, 2021. The deadline to apply is December 1, 2021 for the Fall 2021 semester and May 1, 2022 for the Spring 2022 semester. The student (not the contributor) must log into NJFAMS to apply. To access NJFAMS now,
Other Resources You May Find Useful
NJBEST 529 College Savings Plan-New Jersey Investors Handbook
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