What are the special advantages for beneficiaries living in New Jersey?
• Double tax-free advantage. For earnings withdrawn to pay for qualified expenses, you will not owe New Jersey state income tax or federal income tax. • A scholarship of up to $1,500. Franklin Templeton 529 College Savings Plan is the only state college savings program to offer a scholarship rewarding students who pursue higher education in New Jersey. The plan offers increasingly larger scholarships based on how long you save, up to a maximum of $1,500 scholarship for over 12 years of saving. For more details, refer to the Plan’s Investor Handbook.2 • The plan won’t interfere with New Jersey financial aid. The first $25,000 of plan assets are not considered when determining a beneficiary’s eligibility for need-based financial aid awarded by the state of New Jersey.
