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Help your child succeed by opening and making contributions to a NextGen 529 account!

NextGen 529 is Maine's section 529 plan, which many families use to save for higher education.

Open a NextGen 529 account

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Learn about Grants for Maine Residents

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Make a Contribution

Invest in Your Child

Initial Matching Grant Now Also Available for Alfond Grant Recipients

Starting January 1, 2020, eligibility for the Initial Matching Grant has been expanded to NextGen 529 accounts opened for children who have also received the $500 Alfond Grant. The award amount is $100 for all eligible Maine accounts that are opened with just $25 before December 31, 2020. Learn more…

Tax-Free Growth

NextGen 529 is Maine’s Section 529 plan which many families use to save for higher education. Any earnings in a Section 529 plan are tax-free, when used to pay for qualified higher education expenses*. It’s never too early to start planning ahead for future education expenses, and opening a NextGen 529 account now can make a big difference later.

NextGen 529 Investment Options

NextGen 529 offers a variety of investment options in two separate series – the Client Direct Series and the Client Select Series.

The Client Direct Series is for investors who want to manage their own investments. The Client Select Series is for investors who want to work with a financial advisor.

Each series offers different investment options, each with its own sales charges, fees and expense structure. Some of the same investment options are available in each series.

 

Please remember: There’s always the potential of losing money when you invest in securities.

* To be eligible for favorable tax treatment afforded to any earnings portion of withdrawals from Section 529 accounts, such withdrawals must be used for qualified higher education expenses, as defined in the Internal Revenue Code. For distributions beginning in 2018, qualified higher education expenses also include limited tuition at elementary or secondary public, private, or religious schools. The earnings portion, if any, of a withdrawal not used for qualified higher education expenses is subject to federal income tax and may be subject to a 10% additional federal tax, as well as to state and local income taxes. Tax treatment of distributions for elementary and secondary school tuition may differ in some states. Please consult your tax advisor for specific advice regarding such distributions.

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