United States
Apply for NJBEST Scholarship
The NJBEST Scholarship provides a tax-free scholarship to beneficiaries of a Franklin Templeton 529 College Savings Plan.1
Requirements to qualify include2:
Student must be a beneficiary of a Franklin Templeton 529 College Savings Plan opened for at least four years.
Total contributions to the Franklin Templeton 529 College Savings Plan must be equal to at least $1,200.
The contributor must have made a withdrawal for qualified education expenses from the account for which the student is beneficiary.
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 term.
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.
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 | $1,000 |
| $1,800 | 6 | $1,500 |
| $2,400 | 8 | $2,000 |
| $3,000 | 10 | $2,500 |
| $3,600 | 12 | $3,000 |
NEXT STEPS
Having Issues?
Contact HESAA at
609-584-4480
Mon-Thurs 8 am-8 pm EST
Fri 8 am-5 pm EST
The NJBEST Scholarship is provided by the New Jersey Higher Education Student Assistance Authority (HESAA).
- Investing in Franklin Templeton 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 during any fall or spring semester of college. The NJBEST Scholarship is provided by the New Jersey Higher Education Student Assistance Authority.
- Please read the Investor Handbook for more information
Nonqualified withdrawals are subject to federal income tax, a 10% federal tax penalty, state income taxes and possible penalties.
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 Distributors, LLC, the manager and underwriter for the plan, at (800) DIAL BEN® / (800) 342-5236. 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 state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in its qualified tuition program.
This material is not a recommendation of any particular security, is not based on any particular financial situation or need, and is not intended to replace the advice of a qualified attorney, tax professional, investment professional or insurance agent. Before making any financial commitment regarding a Section 529 college savings plan, consult with the appropriate financial professional.
Franklin Templeton 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. Member FINRA/SIPC, an affiliate of Franklin Resources, Inc., which operates as Franklin Templeton. No federal or state guarantee. Principal value may be lost, and investing in the plan does not guarantee admission to any particular primary or secondary school or to college or sufficient funds for primary or secondary school or for college. Please refer to the Investor Handbook for more complete information.
See the Investor Handbook for more information on Franklin Templeton 529 College Savings Plan, including sales charges, expenses, general risks of the Plan, general investment risks and specific risks of investing in Plan portfolios, which can include risks of convertible securities; country, sector, region or industry focus; credit; derivative securities; foreign securities, including currency exchange rates, political and economic developments, trading practices, availability of information, limited markets and heightened risk in emerging markets; growth or value style investing; income; interest rate; lower-rated and unrated securities; mortgages, asset-backed and credit-linked securities; life settlement investments; restructuring and distressed companies; securities lending; smaller and midsize companies; and stocks.
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Franklin Distributors, LLC. Member FINRA/SIPC. Prior to July 7, 2021, Franklin Templeton Distributors, Inc., and Legg Mason Investor Services, LLC served as mutual fund distributors for Franklin Templeton.
