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NJBEST

WHY AN NJBEST 529 PLAN

  • Get started for as little as $25
  • Can be used for more than just tuition and for a variety of education options – including community college, trade schools, and apprenticeships
  • Earnings grow federal income tax free
  • Transfer savings to another family member.
 

NJBEST SCHOLARSHIP

  • Students at New Jersey colleges or universities can receive a tax-free college scholarship worth up to $3,000, depending on how long the plan has been open.

MATCHING GRANT PROGRAM

  • One-time grant of up to $750 matched dollar-for-dollar of the initial deposit into an NJBEST account for new accounts and for new beneficiaries.
 

NJ STATE TAX BENEFITS

  • NJ state tax deduction for contributions into an NJBEST account of up to $10,000 per year.
  • For taxpayers with gross income of $200,000 or less, beginning with contributions in tax year 2022.