Open an NJBEST 529 plan for your child, grandchild, niece, nephew, or even a special friend’s child. It’s a fantastic way to jumpstart their college savings journey, offering a secure and tax-advantaged path towards their educational goals.
Benefits Beyond Compare for New Jersey Residents:
Here’s why NJBEST stands out for New Jersey residents:
- Matching Grant Boost: Residents with an adjusted gross income (AGI) of $75,000 or less can get a one-time matching grant of up to $750 on their initial NJBEST deposit! That’s free money added to your child’s college savings – a fantastic head start.
- State Tax Deduction Advantage: NJ taxpayers with an AGI of $200,000 or less can enjoy a state income tax deduction of up to $10,000 per year on their NJBEST contributions. This means you save on taxes while saving for your loved one’s education – a win-win situation!
- Scholarship Potential: Students who use their NJBEST funds to attend a New Jersey college or university might be eligible for a scholarship of up to $6,000. The scholarship amount depends on the plan’s duration and contribution history. Talk about an extra incentive for in-state education!
NJBEST: Flexible, Tax-Advantaged, and Rewarding
NJBEST offers a range of investment options tailored to your risk tolerance and your child’s age. Contributions grow tax-free, and qualified withdrawals used for educational expenses are completely free of federal and state income taxes.
Get Started Today: Your Future Awaits!
Don’t wait – take the first step towards securing your loved one’s bright future. Visit https://www.njbest.com/ to learn more about NJBEST plans, explore investment options, and open an account today. Every contribution, big or small, gets them closer to their academic dreams.
