Wednesday, December 5, 2012

Good News for 529 College Investing Plan Participants

Here is some valuable information for New Jersey Residents investing in a Franklin Templeton 529 College Investing Plan for a student who attends school in New Jersey.

Clients wishing to help a current New Jersey resident pay for college will enjoy additional benefits by investing with Franklin Templeton 529 College Investing Plan.
Double tax-free tax status. Franklin Templeton 529 College Savings Plan is a tax-free investment for New Jersey residents. Your client will not owe either federal or New Jersey state income taxes on earnings or assets withdrawn to pay for qualified educational expenses.2

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 plan offers increasingly larger scholarships based upon how long your client invests, up to a maximum of $1,500 scholarship for over 12 years of saving.5

Please access the Investor Handbook for more information. Use the Scholarship Request form to apply.

ContributionFull Years Account OpenScholarship Amount

Limited interference with financial aid. The first $25,000 of contributions to a Franklin Templeton 529 College Savings Plan will not be considered when determining a student beneficiary's eligibility for financial aid awarded by the state of New Jersey.

Investors should read the Investor Handbook carefully before investing and consider whether their or their account beneficiary's home state offers any state tax or other benefits that are only available for investment in its qualified tuition program.