Improvements to college savings plan announced

Assemblyman Michael J. Arnone (R-Monmouth) has announced improvements to the New Jersey Better Educational Savings Trust (NJBEST).

Commented Arnone: "Now it’s an even better way for you to save for higher education."

The improvements include:

• Higher potential rates of return;

• Scholarship opportunities of up to $1,500 for saving and attending college in New Jersey;

• A 50 percent reduction in investment fee and service charge; and

• Higher maximum allowable balance (now $150,000).

These new benefits augment current benefits which include earnings exempt from state income tax, earnings deferred from federal income tax, savings applicable toward higher education nationwide, and other benefits.

Said Arnone: "Getting started now with NJBEST is an outstanding way to help college dreams become a reality."

For information about the program and an application form, call toll free 1-877-465-2378.