Save Today for
Your Child’s Bright
Tomorrow

The possibilities for your child’s education are endless. Keep your child's opportunities in reach and start saving early with a flexible investment plan.

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FLEXIBLE


  • Choose from most accredited two- and four-year colleges and universities as well as vocational schools, including many outside the U.S.1
  • Use up to $10,000 per year per beneficiary for eligible primary and secondary school (K-12) tuition1
  • Transfer savings to another family member

CONVENIENT


  • Get started with as little as $25
  • Set up automatic investments, and make saving easy
  • Crowdfund with family and friends using Spryng™

TRUSTED


  • Used by more than 50,000 NJ families2
  • Valued by account owners—88% are likely to recommend NJBEST to family and friends3
  • Established in 2003

10 Things You Should Know About NJBEST 529 College Savings Plans

  • They Pay for More than Just Tuition
  • Savings can be used for any qualified tuition expense. Additionally, for accredited higher education schools (e.g. college or vocational schools), savings can be used for additional qualified expenses including mandatory fees, supplies, books or other required equipment, and room and board, if the beneficiary is enrolled at least half-time.1

  • You Can Change Beneficiaries
  • The beneficiary can be changed to another member of the immediate or extended family (including siblings, grandchildren, nieces, nephews, cousins and more).4

  • The Owner Controls 529 Plan Assets
  • The account owner—not the beneficiary—maintains control of 529 Plan assets, including how and when they will be used.4

  • Flexible Contribution Amounts
  • NJBEST allows account owners to open an account with as little as $25 and to contribute $305,000 per beneficiary over the lifetime of the account.4

  • Wide Range of Schools
  • 529 savings can be used at most accredited two- and four-year colleges and universities and vocational schools, including many outside the U.S. In addition, up to $10,000 per year per beneficiary can be used for tuition for eligible public, private and religious primary and secondary educational institutions (K-12.) At this time, it is not clear what, if any, expenses will be regarded as “tuition” in the case of public schools.1

  • No Income Restrictions
  • Anyone can open a plan regardless of his or her income.

  • Multiple Investment Options
  • NJBEST offers a wide range of investment choices allowing you to invest your assets in the portfolio(s) that best suit your education savings goals.

  • Convenience
  • NJBEST offers features that make it a convenient way to save for college, including monthly automatic investment plans and portfolios that automatically rebalance as the beneficiary gets closer to college.

  • Earnings Grow Tax Free
  • Earnings grow federal income tax-free, and earnings are free from federal income tax when withdrawn for qualified higher education expenses or used up to $10,000 per year for tuition for eligible primary and secondary schools.1

  • Estate Planning
  • Five years worth of gifts (up to $75,000 for an individual or $150,000 if a married couple) can be made at once to NJBEST without owing federal gift tax, as long as no other gifts are made to the same beneficiary over the five years.

    Tax benefits are conditioned on meeting certain requirements. Federal income tax, a 10% federal tax penalty, and state income tax and penalties may apply to nonqualified withdrawals of earnings. Generation-skipping tax may apply to substantial transfers to a beneficiary at least two generations below the contributor. Gift examples are general; individual financial circumstances and state laws vary—consult a tax advisor before investing. If the contributor dies within the five-year period, a prorated portion of contributions may be included in his or her taxable estate.4