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Grants for Maine Residents - Automated Funding Grant

A $100 Automated Funding Grant is available for accounts that make automated contributions through an automated funding option, regardless of family income.

Grant Eligibility Requirements

  • Either the account owner or account beneficiary is a Maine resident at the time the grant is awarded.
  • The account must make six consecutive automated contributions no less frequently than quarterly, before the grant will be awarded.

How do I start making automated contributions?

NextGen 529 accounts can be funded through payroll deduction or automatic contributions from your bank account (Automated Funding Service). Automated contributions must be at least $25 monthly per account.

DOWNLOAD AUTOMATED FUNDING SERVICE FORM »
DOWNLOAD PAYROLL DEDUCTION FORM »

What else should I know?

  • The Automated Funding Grant is limited to one per eligible account.
  • Upon withdrawal, Automated Funding Grant funds are paid only to institutions of higher education.
  • View the Terms and Conditions of Maine Grant Programs for other conditions and restrictions that apply.

Although grant funds will appear on the NextGen 529 account statement, all matching grant funds, including any earnings on matching grant funds, remain the property of FAME until used for qualified higher education expenses.

FAME may modify or terminate any matching grant program at any time.

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