AUGUSTA, MAINE — January 20, 2019 —The Finance Authority of Maine (FAME) announced today its $20,000 Invest in ME 20th Anniversary Sweepstakes – awarding its biggest scholarship prize ever – to kick off its year-long 20th anniversary celebration of helping Maine families save for college and other post-secondary education opportunities. One lucky Mainer will receive the $20,000 scholarship prize.¹ Entries will be accepted from January 20 to May 29, 2019. Official rules
Maine’s Section 529 plan, known as NextGen 529™, which is administered by FAME, celebrates 20 years in 2019. “Over the last 20 years, NextGen 529 has been an important resource for Maine families,” said Bruce Wagner, Chief Executive Officer at FAME. “To mark this major milestone, we wanted to start this celebratory year off with a big bang and launch our most significant scholarship prize sweepstakes ever.”
NextGen 529 has grown immensely over the last 20 years. Now there are more than 59,000 Maine accounts (as of 12/31/2018) with more than $325,000,000 in savings for post-secondary educational expenses. In 2002 FAME instituted a NextGen 529 Matching Grant program which has invested over $21,000,000 to more than 37,600 Maine accounts. Families can use the funds saved through the NextGen 529 plan to help pay for qualified educational expenses² like tuition, room and board, and books and supplies, including computers.
“With the cost of higher education rising every year, opening and contributing to a NextGen 529 account early in a child’s life can really help families save and reduce the need for student loans. We hope the $20,000 Scholarship Prize will inspire families to get started,” said Wagner.
To enter the $20,000 Invest in ME 20th Anniversary Sweepstakes:
- Open a NextGen 529 account for the benefit of a legal resident of the state of Maine
- Contribute to an existing NextGen account for the benefit of a legal resident of the state of Maine
- Complete and submit a sweepstakes entry form by mail or online at NextGenforME.com/EnterToWin
Entries must be submitted between January 20, 2019 and May 29, 2019. See NextGenforME.com/EnterToWin for sweepstakes details and Official Rules. No purchase necessary to enter or win. If you do not have a NextGen 529 account at the time of entry, a NextGen 529 account would need to be opened to receive the scholarship prize. Void where prohibited by law.
¹Designated beneficiary of the winning NextGen account must be a resident of the state of Maine.
²As defined in the Internal Revenue Code.