A scholarship available to students who attend New Jersey colleges and contribute to the NJ 529 (NJBEST) was recently doubled from $1,500 to $3,000. To be eligible for the full scholarship, the NJBEST account must be open for at least 12 years and received at least $3,600 in contributions according to the new regulations approved by the state Higher Education Student Assistance Authority board. The scholarship is not available to students who attend an out-of-state college. Unlike other state scholarships, the NJBEST scholarship is not funded by taxpayers. – it is funded by the fees investors pay to maintain the NJBEST accounts. Under a law Gov. Phil Murphy signed last year, the scholarship is available in any term that a student enrolls at a NJ higher education institution — not just during a student’s freshman year. Click below for more information.