Matching Grants for Maine Residents Changing January 1, 2020, for Calendar Year 2020

Published October 17, 2019

Matching grants for Maine residents1 changing January 1, 2020, for calendar year 2020:

1. Initial Matching Grant (IMG). Eligibility for the IMG will be expanded to accounts opened for children who have also received or are eligible for the $500 Alfond Grant. The IMG award amount will be $100 for all eligible Maine accounts that are opened and receive an initial contribution of at least $25 between January 1, 2020-December 31, 2020.

2. NextStep Matching Grant (NSMG). The NSMG will be a 30% match on contributions made in 2020 to eligible accounts, up to $300 match.

3. Automated Funding Grant (AFG). The AFG will be limited to one per beneficiary.

 

1 A Maine resident account is an account opened by a Maine resident or for a Maine resident beneficiary.  Grants are linked to eligible Maine accounts. Upon withdrawal, grants are paid only to institutions of higher education. See Terms and Conditions of Maine Grant Programs at NextGenforME.com  for restrictions and limitations that apply.

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