Learn About Our College Savings Plan Options

Franklin Templeton Investments distributes two 529 College Savings Plans. Below you can find certain information about each plan and the benefits of a 529 College Savings Plan.

  • Franklin Templeton and NJBEST 529 College Savings Plan Comparison Chart¹

    AVAILABILITYDISTRIBUTION CHANNELINITIAL MINIMUM INVESTMENTPROGRAM MANAGEMENT FEESALES CHARGEINVESTMENT OPTIONSSCHOLARSHIP OPPORTUNITY
    Franklin Templeton 529 College Savings Plan Available nationwide Financial Advisor or Direct Sold (open an account on your own) $250 OR $25 with Automatic Investments 25 BPS Waived (A Shares at NAV) 3 Age-Based Portfolios2 
    5 Objective-Based Portfolios
    9 Individual Portfolios
    For NJ Account Owners:
    Students attending New Jersey colleges or universities can receive a tax-free
    scholarship worth up to $1,500 depending on how long the plan has been open. See the Investor Handbook for details.
    NJBEST College Savings Plan 529 Plan Account owner or beneficiary must be a resident of New Jersey Direct Sold (open an account on your own) $25 10 BPS None 3 Age-Based Portfolios
    4 Objective-Based Portfolios
    2 Individual Portfolios
    For NJ Account Owners:
    Students attending New Jersey colleges or universities can receive a tax-free
    scholarship worth up to $1,500 depending on how long the plan has been open. See the Investor Handbook for details.
    • Savings can be used for any qualified tuition expense. Additionally, for accredited higher education schools (e.g. college or vocational schools), savings can be used for additional qualified expenses including mandatory fees, supplies, books or other required equipment, and room and board, if the beneficiary is enrolled at least half-time2
    • Earnings grow federal income tax-free, and earnings are free from federal income tax when withdrawn for qualified higher education expenses or used up to $10,000 per year for tuition for eligible primary and secondary schools.2,3
    • The account owner has control over the assets and decides how and when they will be used.
    • The beneficiary can be changed to any member of the immediate family. See the Investor Handbook for additional family member types.
    • No income restrictions, anyone can open a 529 college savings plan.