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.