Tag: NextGen

Posted in Guest Post

What Do You Know About the Alfond Scholarship Foundation and NexTGen?

Posted on by fccamaine

The FCCAM Board had representatives from the Alfond Scholarship Foundation and the Finance Authority of Maine (MAINE) at our Feb. ’23 Quarterly Board meeting. They came to provide information to us as part of reaching out to partners that could help spread the word about their programs and the benefit to Maine’s children and their families.

Colleen J. Quint / President & CEO / Alfond Scholarship Foundation

and

Maire Pelletier / NextGen College Savings Counselor / Finanve Authority of Maine (FAME)

  • P.O. Box 949, 5 Community Drive, Augusta, ME  04332-0949 
  • 207-620-3508 or 1-800-228-3734
  • Fax: 207-213-2608 – TTY: 207-626-2717
  • mpelletier@famemaine.com

Following our meeting we asked that they provide us with information that could be shared with providers. This post includes resource links and slides from their powerpoints. FCCAM is not rendering legal or financial advice. We are passing along information and links to reliable sources with programs that can benefit Maine’s children and families. We encourage providers to make families aware of these programs.

My Alfond Grant

  • The $500 Alfond Grant is invested automatically for all babies born as Maine residents starting in 2013 (and was available on a more limited basis from 2008-2012). 
  • By the end of 2022, over $70m had been invested for the future education of more than 140,000 Maine children! 

Visit MyAlfondGrant.org

Follow us on Social Media:

Use MyAlfondGrant.org as a starting point to go to a
website administered by FAME to:

  • Check their Alfond Grant value
  • Sign up for e-delivery
  • Update contact information

Use the Savings Calculator on the Alfond Grant website to see how even $5/month saved can add up.

NextGen529

  • NextGen529 is Maine’s education savings plan. 
  • Families can open accounts and contribute to them to save for the future education of children, grandchildren – and even themselves!

Information about the whole program can be found at: NextGen

There are also additional grants through FAME that can be accessed as part of NextGen Accounts.