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Grants for Maine Residents - NextStep Matching Grant

Once you contribute at least $50 in a calendar year, NextGen will match 50% of every dollar contributed, up to $300! Don’t leave money on the table!

A 50% annual NextStep Matching Grant is available to Maine Residents – contribute up to $600 per year and receive up to a $300 match. For example:

  • Contribute $50—get a $25 matching grant
  • Contribute $160—get an $80 matching grant
  • Contribute $600—get a $300 matching grant

Grant Eligibility Requirements

  • Either the account owner or account beneficiary is a Maine resident at the time the grant is awarded.
  • An account must receive at least $50 in contributions in a calendar year to receive this matching grant.

What Else Should I Know?

  • The NextStep Matching Grant is limited to one per eligible beneficiary.
  • NextStep Matching Grant funds may only be used for qualified higher education expenses.¹
  • View the Terms and Conditions of Maine Grant Programs for other conditions and restrictions that apply.

Although grant funds will appear on the NextGen 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. 

¹ To be eligible for favorable tax treatment afforded to any earnings portion of withdrawals from Section 529 accounts, such withdrawals must be used for “qualified higher education expenses,” as defined in the Internal Revenue Code.  Any earnings withdrawn that are not used for such expenses are subject to federal income tax and may be subject to a 10% additional federal tax, as well as state and local income taxes.

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