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NJBEST

NJBEST 529 PLAN BENEFITS

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 $6,000, depending on how long the plan has been open.

MATCHING GRANT OPPORTUNITY

New Jersey residents with adjusted gross incomes of $75,000 or less may be eligible for a 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 INCENTIVES

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.

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.