Keyword Analysis & Research: njbest 529 franklin

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Frequently Asked Questions

Is there a 529 plan in New Jersey?

New Jersey's NJBEST 529 College Savings Plan is managed by Franklin Templeton and features age-based and static portfolio options utilizing mutual funds and/or ETFs along with a money market option. This program is not open to you either because it has residency requirements or because it has stopped accepting new enrollments.

What are the requirements for a 529 savings plan?

A 529 savings plan must have at least one year of performance history before they will be assigned a 5-cap rating.

Are there any college scholarships in New Jersey?

There is no program match, however New Jersey beneficiaries are eligible for a one-time scholarship of up to $3,000 for the first semester at any New Jersey college or university subject to minimum participation and contribution requirements.

Is there a tax deduction for college in NJ?

The New Jersey College Affordability Act allows for a state tax deduction of up to $10,000 per taxpayer with gross income of $200,000 or less, beginning with contributions made in tax year 2022.

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