Finance Authority of Maine (FAME)

NextGen 529™ is Maine’s 529 plan, which many families use to save for higher education. Opening a NextGen 529 account for your child (or yourself ) is a real investment in the future.

Grants for Maine Residents1 Can Really Add up! 
Grants for opening a NextGen 529 account and for making additional contributions are real investments in the future.

Grants are available for accounts owned by a Maine resident or for the benefit of a Maine resident and are limited to one per beneficiary/student.

1. Open your account
Open your account with $25 and get the $100 Initial Matching Grant

2. Make it automatic
Set up and make six consecutive automatic contributions from your payroll or bank account and get a $100 Automated Funding Grant.

3. Add to your account
Make contributions and get a 30% NextStep Matching Grant up to $300 match per year.

For more information and to learn how to open an account visit

Grants for Maine residents are linked to eligible Maine accounts. Upon withdrawal, grants are paid only to institutions of higher education. See Terms and Conditions of Maine Grant Programs for details about eligibility and other conditions and restrictions that apply at Grants may lose value.

NextGen 529 is a Section 529 plan administered by the Finance Authority of Maine (FAME). Before you invest in NextGen 529, request a NextGen 529 Program Description from your Merrill advisor or Maine Distribution Agent or call Merrill at 1-877-463- 9843 and read it carefully. The Program Description contains more complete information, including investment objectives, charges, expenses and risks of investing in NextGen 529, which you should carefully consider before investing. You also should consider whether your or your designated beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s 529 plan. Merrill Lynch, Pierce, Fenner & Smith Incorporated, a registered broker-dealer, member SIPC, is the program manager and underwriter.

Alfond Scholarship Foundation

Did you know that more than $55 million in Alfond Grants has been invested for over 111,000 Maine children by the Alfond Scholarship Foundation? We are working hard to ensure a bright future for every Maine child. Every baby born a Maine resident on or after January 1, 2013 has a $500 Alfond Grant automatically invested for his or her future higher education expenses. The Alfond Grant was available on a more limited basis between 2009-2012. The MyAlfondGrant program has a website with lots of information including tips, tools, resources and FAQs, as well as ways to contact the program if you have questions. Check it out today at!