College Savings Guide

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COLLEGE SAVINGS GUIDE

Planning Ahead Makes All the Difference

Education after high school can open a world of possibility for you or your child. It can also seem a little overwhelming at times. To help you get started, we’ve pulled together a series of articles that will teach you the ins and outs of planning and paying for education after high school.

COLLEGE SAVINGS OPTIONS

From savings accounts to savings bonds to 529 plans, there are a variety of ways families save for college. Learn about the different ways to save for college.

EXPLORE OPTIONS ›

PLANNING FOR COLLEGE FOR MAINE STUDENTS

College planning can be an exciting time for young people. It can also be a little overwhelming and stressful. Learn just what college—and planning for college—can mean.

MAKE A PLAN ›

PAYING FOR COLLEGE FOR MAINERS

Paying for college is typically the first big financial decision a young person makes in their lifetime. This guide will help your family figure out how to pay for college.

HOW TO PAY FOR COLLEGE ›

WHAT IS THE ALFOND GRANT?

The Alfond Grant can play an important role in saving and paying for your child’s higher education. Here we answer your questions about the Alfond Grant.

LEARN ABOUT THE GRANT ›

WHAT IS A 529 PLAN?

One tool families use to help pay for college is a 529 plan. We’ll show you the ins and outs of 529s to help you decide if it is something that’s right for you.

SEE IF A 529 PLAN IS RIGHT FOR YOU ›

College Savings & Market Volatility

You’ve taken the first step and decided to invest in your child’s future with Maine’s 529 college savings plan, which is designed to help you plan and pay for your child’s higher education.

Essential Calculators and Tools

Whether you’d like to see what your tax savings advantages could be with a NextGen 529 or how much you should save for your child’s college education, these tools will help.

GOALS-BASED BUDGETING

Retirement, college savings, emergency fund, college loans…with so many financial commitments, it can seem overwhelming. A great way to reach financial goals is to assign monthly income.

Using Your Alfond Grant

Here’s what you need to know about the Alfond Grant—and how to navigate the exciting path towards education after high school.

Learn More about how to use the Alfond Grant

Which 529 Account Is Right for You?

NextGen 529 offers three types of accounts

Simplified Savings

The Connect Account

SIMPLIFIED SAVINGS

The Connect Account

Made for those of us who want to open an account ourselves and are looking for a more streamlined, simplified choice.

Connect Account Features:

Streamlined investment choices
Easy to view account platform
Emergency savings option with Vestwell, managed on the same online platform

LEARN ABOUT THE CONNECT ACCOUNT

LEARN MORE

SELF-DIRECTED

The Direct Account

SELF-DIRECTED

The Direct Account

Designed for those of us who want more choice and control over investment options for an account.

Direct Account Features:

Multiple investment options
Hands-on account control
Self-directed savings choices

LEARN ABOUT THE DIRECT ACCOUNT

LEARN MORE

ADVISOR-MANAGED

The Select Account

ADVISOR-MANAGED

The Select Account

Created for those of us who prefer to work with a financial advisor and want to customize their investing.

Select Account Features:

Multi-manager investment options
Advisor and investor account platforms
Advisor-managed savings choices

LEARN ABOUT THE SELECT ACCOUNT

LEARN MORE

Compare Account Types

Which 529 Account Is Right for You?

NextGen 529 offers three types of accounts

CONNECT ACCOUNTS

I’m new to investing and want a simplified approach

You want to open an account yourself and don’t want to choose from a lot of investment options. Connect Accounts can be a great way to get started investing for higher education.

LEARN ABOUT CONNECT ACCOUNTS

DIRECT ACCOUNTS

I’ll choose and manage my own investments

You want to open an account yourself and build a college savings plan that works for you. Direct Accounts offer several investment options, offering flexibility to suit your family’s savings goals.

LEARN ABOUT DIRECT ACCOUNTS

SELECT ACCOUNTS

I’ll work with a financial advisor

If you prefer to work with your financial advisor, speak with them about opening a Select Account. Select Accounts offer a wide array of investment options and are offered through a financial advisor.

LEARN ABOUT SELECT ACCOUNTS

CONNECT ACCOUNTS

I’m new to investing and want a simplified approach

You want to open an account yourself and don’t want to choose from a lot of investment options. Connect Accounts can be a great way to get started investing for higher education.

LEARN ABOUT CONNECT ACCOUNTS

DIRECT ACCOUNTS

I’ll choose and manage my own investments

You want to open an account yourself and build a college savings plan that works for you. Direct Accounts offer several investment options, offering flexibility to suit your family’s savings goals.

LEARN ABOUT DIRECT ACCOUNTS