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NextStep Matching Grant

Make contributions and get a 30% NextStep Matching Grant up to $300 match per year. Contribute up to $1,000 per year and receive up to a $300 match. For example:

  • Contribute $100—get a $30 matching grant
  • Contribute $600—get an $180 matching grant
  • Contribute $1,000—get a $300 matching grant

Who is eligible?

  • Either the account owner or student (beneficiary) is a Maine resident at the time the grant is awarded
  • The NextStep Matching Grant is limited to one per beneficiary.

How is the grant awarded?

The NextStep Matching Grant is awarded automatically—no additional paperwork is needed. 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 in 2022.

What else do I need to know?

  1. Grant funds, including any earnings, cannot be transferred to another beneficiary.
  2. Grant funds can only be used at institutions of higher education that are eligible for federal financial aid.
  3. When it’s time for your student to use their 529, grant funds can only be paid to the institution of higher education.
  4. Although grant funds will appear on your 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.

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

Terms and Conditions

Grants for Maine Residents are invested at the discretion of FAME. Grants for Maine Residents are invested in a Matching Grant Portfolio in two age bands: a 0-15 Years age band followed by a 16+ Years age band, based on the age of the student (beneficiary). Investments involve risk. Grants may lose value.

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