Modifies NJBEST one-time grant to lifetime matching grant of $1,500 per beneficiary.*
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill changes the New Jersey Better Educational Savings Trust (NJBEST) program to provide a more substantial benefit to eligible families. Currently, NJBEST offers a one-time matching grant of up to $750. This bill increases that to a lifetime matching grant of $1,500 per beneficiary, meaning that for every dollar deposited into a qualifying account, the state will match it up to a total of $1,500. The changes are designed to encourage families with lower incomes to save for their children’s future education.
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Sponsors
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2 on record
Primary sponsors
Joseph Cryan
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