You can open an NJBEST 529 College Savings Plan for yourself or anyone else. As the plan owner, you enjoy special tax benefits, since qualified withdrawals are free from federal income taxes and from New Jersey state income tax. You maintain control over the plan and can change beneficiaries at any time (as long as the new beneficiary is a member of the prior beneficiary's family).

NJBEST helps you pursue college dreams for a friend or family member, even for yourself, in numerous ways:

Tax-free earnings and withdrawals

You make contributions to NJBEST with after-tax dollars and your earnings grow federal income tax free. Money you withdraw to cover qualified higher education expenses is free from New Jersey state income taxes and federal income tax.

Tax benefits may be conditioned on meeting certain requirements. Federal tax, a 10% penalty and state tax apply to nonqualified withdrawals of earnings. Generation-skipping tax may apply to substantial transfers to a beneficiary at least two generations below the contributor. See the Investor Handbook for more complete information.

Contribute up to $305,000 for each student

Even if you begin saving later rather than earlier, NJBEST lets you contribute up to an aggregate plan balance of $305,000 for each beneficiary. This high contribution level isn't governed by time restrictions. You can contribute smaller amounts over a longer period of time or larger amounts for a shorter period of time.

Retain control of your NJBEST plan

If you opened an NJBEST plan, you own and control its assets.

Change the beneficiary at any time

If the person you've named as beneficiary decides not to go to college, you can redirect the assets to pay qualified education costs for someone else, as long as that person is a member of the beneficiary's family.

Investors should carefully consider plan investment goals, risks, charges and expenses before investing. To obtain the Investor Handbook, which contains this and other information, call Franklin Templeton Distributors, Inc., the manager and underwriter for the plan, at 1-877/4NJBEST or click here. You should read the Investor Handbook carefully before investing and consider whether your or the beneficiary's home state offers any state tax or other benefits that are available for investments only in its qualified tuition program.

Footnote
1.	Offered and administered by the New Jersey Higher Education Student Assistance Authority (HESAA); managed and distributed by Franklin Templeton Distributors, Inc., an affiliate of Franklin Resources, Inc., which operates as Franklin Templeton Investments. No federal or state guarantee. Principal value may be lost, and investing in the plan does not guarantee admission to college or sufficient funds for college. Please refer to the Investor Handbook for more complete information.