| Eligible Maine families can receive a $200 Initial Matching Grant when opening a NextGen account with just $50! |
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To receive an Initial Matching Grant in 2010:
1. Open a NextGen account by completing the NextGen Account Application; and
2. Certify your eligibility by signing the Initial Matching Grant Certification contained on the Addendum to Account Application
3. Mail or deliver the NextGen Account Application and Addendum to FAME. Be sure to include your initial contribution of at least $50.
Do NOT send copies of your tax returns.
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Return Completed Forms to the Address Below
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Mailing Address:
NextGen College Investing Plan
Finance Authority of Maine
PO Box 949
Augusta, ME 04332-0949
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Overnight Delivery:
NextGen College Investing Plan
Finance Authority of Maine
5 Community Drive
Augusta, ME 04330
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FAX: 207-623-0095
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Eligibility Requirements:
· The NextGen account owner's family adjusted gross income* was $75,000 or less, as reported on the family’s previous year's federal income tax return; and
· Either the NextGen account owner or NextGen account beneficiary is a Maine resident; and
· The NextGen account beneficiary has not previously received an Initial Matching Grant or has not already received an Annual Matching Grant in the same year.
What Else Should I Know?
· To receive an Initial Matching Grant, the Addendum to Account Application must be received by FAME within twelve months from the date the NextGen account is opened.
· Account beneficiaries receiving the Harold Alfond College Challenge Grant cannot receive the Initial Matching Grant.
· The NextGen account must be opened with a minimum initial contribution of $50. No other initial contribution is required.
· FAME will award the $200 Initial Matching Grant to the eligible NextGen account within 120 days after receipt of the Certification.
· See the Initial Matching Grant Terms and Conditions for other conditions and restrictions that apply.
Information & Downloads:
· 2010 Initial Matching Grant Terms and Conditions and Addendum
· How to initiate a qualified withdrawal of Grant funds.
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"Family adjusted gross income" means the adjusted gross income reported by the account owner and the account owner's spouse, if applicable, on the most recently filed federal income tax return, or as reported on Form W-2 if the account owner and the account owner's spouse, if applicable, are not required to file a federal income tax return or through such other evidence acceptable to FAME.
IMPORTANT NOTICES:
Although matching grant funds will appear on the NextGen account statement, all matching grant funds, including earnings on matching grant funds if any, remain the property of FAME until used for qualified higher education expenses.
FAME may modify or terminate any NextGen Matching Grant Program at any time.