Special Benefit for New Jersey Residents

You can use your Franklin Templeton 529 College Saving Plan* assets to pay for qualified expenses at any accredited post-secondary school in the U.S., and many institutions outside the U.S,1 but students who pursue their higher education in New Jersey can receive an extra benefit for their freshman year—a tax-free scholarship.

Up to a $1,500 college scholarship. Franklin Templeton 529 College Savings Plan offers a scholarship rewarding students who pursue higher education in New Jersey. The participant must make a withdrawal for qualified educational expenses, meet minimum contribution thresholds and have been a participant in the plan for at least four years to qualify.1

ContributionFull Years Account OpenScholarship Amount
$1,200 4 $500
$1,800 6 $750
$2,400 8 $1,000
$3,000 10 $1,250
$3,600 12 $1,500

Please access the Investor Handbook for more information. Use the online Scholarship Request portal to apply. Contact the New Jersey Higher Education Student Assistance Authority (HESAA) at 609-588-3300 ext. 1323 or ext. 1338 with inquiries or issues.