Skip to content

The NJBEST Scholarship provides a tax-free scholarship to beneficiaries of a NJBEST 529 College Savings Plan.1

Requirements to qualify include2:

  • Student must be a beneficiary of a NJBEST 529 College Savings Plan opened for at least four years.
  • Total contributions to the NJBEST 529 plan must be equal to at least $1,200.
  • The contributor must make a withdrawal for qualified education expenses from the NJBEST account for which the student is beneficiary during the same semester the student applies for the scholarship.
  • Either the student or contributor must be a New Jersey resident at the time of college attendance.
  • Student must be enrolled at least half-time in an eligible New Jersey higher education institution, for either the fall or spring semester.
  • The scholarship may be awarded only once to an eligible Beneficiary.
  • The Scholarship amount is determined at the time the student first enrolls full-time after graduating from high school or earning a GED.

How to apply

To learn more or to apply for the NJBEST Scholarship, click here.

Apply now

How much can you receive?

The longer you contribute at or above minimum contribution levels, the greater the college scholarship amount:

Contributions Full Years Account Open Scholarship Amount
$1,200 4 $2,000
$1,800 6 $3,000
$2,400 8 $4,000
$3,000 10 $5,000
$3,600 12 $6,000

NEXT STEPS

How to Apply

Apply for the NJBEST College Scholarship online

Apply Now

Need More Information?

Find out more information about the NJBEST College Scholarship

Learn More

Having Issues?

Contact HESAA at
609-584-4480
Mon-Thurs 8 am-8 pm EST
Fri 8 am-5 pm EST

  1. Please refer to the Program Description for more information.
  2. Investing in NJBEST does not guarantee admission to any particular elementary or secondary school or to college, or sufficient funds for elementary or secondary school or for college. The scholarship is only available for college and is awarded any fall or spring semester of college. The scholarship may be awarded only once to an eligible beneficiary. The NJBEST Scholarship is provided by the New Jersey Higher Education Student Assistance Authority.

Investors should carefully consider plan investment goals, risks, charges and expenses before investing. To obtain the Program Description, which contains this and other information, call Franklin Distributors, LLC, the manager and underwriter for the plan, at (877) 4NJ-BEST. You should read the Program Description carefully before investing and consider whether your or the beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in its qualified tuition program.

The Program and its associated persons make no representations regarding the suitability of the Program’s investment portfolios for any particular investor. This material is intended to be of general interest only and should not be construed as individual investment advice or a recommendation by Franklin Distributors, LLC. Other types of investments and other types of education savings vehicles may be more appropriate depending on your personal circumstances.  

NJBEST New Jersey's 529 College Savings Plan is offered and administered by the New Jersey Higher Education Student Assistance Authority (HESAA); managed and distributed by Franklin Distributors, LLC, an affiliate of Franklin Resources, Inc., which operates as Franklin Templeton.

Investments in NJBEST are not insured by the FDIC or any other government agency and are not deposits or other obligations of any depository institution. Investments are not guaranteed by the State of New Jersey, Franklin Distributors, LLC, Franklin Templeton, or its affiliates and are subject to risks, including loss of principal amount invested. Investing in the plan does not guarantee admission to any particular primary, secondary school or college, or sufficient funds for primary, secondary school or college.

This material is being provided for general informational and educational purposes and should not be considered or relied upon as legal, tax or investment advice or an investment recommendation, or as a substitute for legal or tax counsel and provided for educational and informational purposes only. Franklin Templeton does not provide legal or tax advice. Federal and state laws and regulations are complex and subject to change, which can materially impact your results. Franklin Templeton cannot guarantee that such information is accurate, complete or timely; and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information.

© 2024. Franklin Distributors, LLC. Member FINRA/SIPC.