HomeGrants for Maine ResidentsNextStep Matching Grant

NextStep Matching Grant

Contribute to your NextGen 529 account and receive 30% of your contribution amount in a NextStep Matching Grant—up to a $300 match per year!

The NextStep Matching Grant is available for accounts with either a Maine resident account owner or student (beneficiary).

Calaine South Portland,
Boys & Girls
Club, ME

What do I do?

How It Works

Receiving the NextStep Matching Grant is as easy as 1-2-3.

CONTRIBUTE TO NEXTGEN 529 ACCOUNT

That’s right. All you need to do is contribute to your NextGen 529 account.

RECEIVE MATCHING GRANT

Your account will be awarded a NextStep Matching Grant of 30% of the amount contributed to the account that year — up to the first $1,000 in contributions.

GET INSPIRED

  • Contribute $100—get $30
  • Contribute $600—get $180
  • Contribute $1,000—get $300
What else?

What to Know

The NextStep Matching Grant is limited to one per beneficiary per year. The grant will be awarded in the first quarter of a calendar year for the previous calendar year’s contributions.

All Grants for Maine Residents awarded by FAME can only be used at institutions of higher education that are eligible for federal financial aid. And when it’s time for your student to go to school, grant funds (including any earnings) can only be paid directly to your student’s school.

  • Grants (including any earnings) can’t be transferred to another beneficiary.
  • Although grants will appear on your NextGen 529 account statement, they (and any earnings) remain the property of FAME until they are paid directly to your student’s school.
  • Grants are invested at the discretion of FAME. 
  • FAME invests grants in a Matching Grant Portfolio in one of two age bands (0-15 years and 16+ years) based on the age of the student (beneficiary).
  • Investments involve risk. Grants for Maine Residents may lose value.

View the Terms and Conditions of Maine Grant Programs for other conditions and restrictions that apply.

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Open a NextGen 529 Account

It’s never too early to start planning. Opening a NextGen 529 account now and saving can make a big difference to your child later.

Which 529 Account Is Right for You?

NextGen 529 offers two types of accounts

DIRECT ACCOUNTS

I’ll manage my own investments

You want to open an account yourself and choose the investment options that are right for you. NextGen 529’s Direct Accounts generally offer lower fees, but fewer investment choices.

SELECT ACCOUNTS

I’ll work with a financial advisor

If you prefer to work with your financial advisor, speak with them about opening an account for you.

DIRECT ACCOUNTS

I’ll manage my own investments

You want to open an account yourself and choose the investment options that are right for you. NextGen 529’s Direct Accounts generally offer lower fees, but fewer investment choices.

SELECT ACCOUNTS

I’ll work with a financial advisor

If you prefer to work with your financial advisor, speak with them about opening an account for you.