NJBEST

for parents

For Parents

We know your child's education is important to you. NJBEST gives you the tools you need to need to plan and save for a college education.

A college education is more important - and more expensive than ever.

In 2014, the estimated cost of a 4-year public college was over $80,000.1 How much will tuition, room and board, books, computers and supplies cost when your kids are ready to go?

How much more will it cost if you borrow the money?

Every year, thousands of families use loans to help cover college-related expenses. This can help in the short-term, but may set them up for a financial burden that's far greater than they realized. What is the real cost of borrowing the money you need to pay for college?

You can start small, but start now.

Regular monthly contributions to a college savings vehicle like a 529 plan, can really add up over time. Every dollar you save is one your child won't have to borrow.

Saving for college can be easy.

Get: "add money to college savings account," off your to-do list for good. As an NJBEST account owner, you can make automatic monthly, quarterly or annual contributions to your account.

See what parents just like you want to know about saving for college.

Figuring out how to save for college is an important decision that lots of parents here in New Jersey struggle with. Our FAQs highlight some of the questions and concerns you all share.

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 (877) 4NJ-BEST. You should read the Investor Handbook carefully before investing and consider whether your or the account beneficiary's home state offers any state tax or other benefits that are only available for investments in its qualified tuition program.

  1. Source: The College Board, Trends in College Pricing, 2014. Projected cost based upon child's entrance to a 4-year public or private college. As reported by the College Board for 2014-15, the $18,943 public college cost and $42,419 private college cost include tuition, fees, room and board. College cost inflation figures of 5.23% (public) and 4.44% (private) are based on the 10-year average annual increase in public and private college costs respectively, as reported by The College Board for 2014-15. Investing in a 529 college savings plan does not guarantee admission to college and does not guarantee sufficient funds to pay for college.