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Open your account, add $25 and get a $100 Initial Matching Grant.
Set up and make six consecutive automatic contributions from your payroll or bank account and get a $100 Automated Funding Grant.
Make contributions and get a 30% NextStep Matching Grant up to a $300 match per year.
Either the account owner or the student (beneficiary) must be a Maine resident to be eligible for Grants for Maine residents.
Grants are limited to one per beneficiary.
See Terms and Conditions of Maine Grant Programs for restrictions and limitations that apply.
Automatically—no additional paperwork is needed. Once the necessary action (opening an account and funding with $25, making contributions, or completing the required number of automated contributions) has been taken for an eligible account, the grant is awarded by FAME. FAME sends a letter to award recipients letting them know they have been awarded the grant.
For the NextStep Matching Grant, the grant will be awarded in the first quarter of a calendar year for the previous calendar year’s contributions. For example, for contributions made in 2021, the NextStep Matching Grant is awarded by the end of March 2022.
View the Terms and Conditions of Maine Grant Programs for other conditions and restrictions that apply.
1 Grants for Maine residents are linked to eligible Maine accounts. An Alfond Grant recipient is eligible to receive the $100 Initial Matching Grant if the minimum required initial contribution is made before the beneficiary’s first birthday. 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. Grants may lose value.
2The Alfond Grant is not automatic in all circumstances and is also available in limited other circumstances. The use of the Alfond Grant is also subject to certain restrictions–see Alfond Grant Guidelines.