New Jersey to add a prepaid tuition plan

New Jersey has enacted a prepaid tuition plan (A1622) to be governed by an 11-member Board. It is not known at this point how long it will take to establish the program allowing participants to purchase advance payment contracts for New Jersey colleges and universities. The bill also permits the existing savings program, NJBEST, to contract with one or more outside invesment managers to supplement or replace the Division of Investment.

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