NJBEST 529 College Savings Plans
The NJBEST 529 College Savings Plan is a 529 plan available in New Jersey that offers families a flexible and accessible way to save for higher education expenses. One unique aspect of this plan is its low minimum contribution requirement, allowing account holders to start saving with as little as $25. The plan provides a variety of investment options, including age-based portfolios and individual fund options, giving account holders the ability to customize their investment strategy. It offers tax advantages, such as tax-free growth and tax-free withdrawals for qualified education expenses. Additionally, New Jersey residents may be eligible for a state income tax deduction for contributions made to the plan, further enhancing the savings potential.
EnrollState Tax Incentive
$10,000 for individuals taxpayers with gross income of $200,000 or less $20,000 for joint accounts taxpayers with gross income of $200,000 or less
Program Manager
Franklin Distributors, Inc.
Investment Manager(s)
Franklin Distributions
Plan type
Direct
Investments
Guided Investments
age-based
ESG Investments
No
Avg. expense fee
0.315%
Fee Range
0.14%-0.71%
Ratings
Backer Rating
Our rating is based on fees and tax savings advantages.
49%
for NJ residents
31%
non-residents
Saving For College
Unbiased, independent resource for parents.
4
for NJ residents
4
non-residents
Other
Connect with Mint.com
Track your finances in one place.
No
Connect with Backer
Full end to end enrollment, gifting and plan management.
Enrollment
Mobile app
Backer App covers this plan.
No
Plan in the news?
Check out latest news about this plan.
General Recommendation
This is a direct sold 529 plan, rated as neutral by Morningstar.
