NextGen Annual Matching Grant
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Qualified families can receive an Annual Matching Grant of up to $200 on the contributions made in 2007 to a NextGen account!


The NextGen Annual Matching Grant Program provides a 50% matching grant on contributions made in 2007 to NextGen accounts, up to a maximum annual grant of $200 for each beneficiary, if the eligibility requirements are met.  For example, if $200 was contributed in 2007 to an eligible NextGen account, the account can receive a match of $100 in 2008:

Eligibility Requirements:

  • The NextGen account owner's family adjusted gross income was $75,000 or less (adjusted annually), as reported on the family's 2007 federal income tax return; and

  • Either the NextGen account owner or NextGen account beneficiary is a Maine resident; and

  • At least $50 in contributions were made to the NextGen account during the 2007 calendar year; and

  • The NextGen beneficiary has not previously received an Initial Matching Grant or Annual Matching Grant in 2008.


What Else Should I Know?

  • The 2008 Annual Matching Grant Certification must be signed by the NextGen account owner and received by FAME no later than December 31, 2008 to be considered for a grant.


  • FAME will deposit the Annual Matching Grant directly into the eligible NextGen account within 120 days after receipt of the Certification.


  • See the Annual Matching Grant Terms and Conditions for other restrictions that may apply.


2009 Annual Matching Grant Program.  You may apply for a 50% matching grant (of up to $200) on the contribution made in 2008 to your NextGen account when the 2009 NextGen Annual Matching Grant Certification becomes available in 2009.


How Do I Apply?

  • Complete the 2008 NextGen Annual Matching Grant Certification. Be sure to check all boxes that apply and sign the Certification.

  • Mail the completed 2008 NextGen Annual Matching Grant Certification to FAME so that it arrives no later than December 31, 2008.

Do NOT send FAME copies of tax returns with the Certification.

Mailing Address:
NextGen College Investing Plan
c/o Finance Authority of Maine
5 Community Drive
PO Box 949
Augusta, ME 04332-0949

Overnight/Ground Delivery:
NextGen College Investing Plan
c/o Finance Authority of Maine
5 Community Drive
Augusta, ME 04330
 
Information & Downloads:
 
 
* "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 may appear on your NextGen account statements, all matching grant funds, including earnings on matching grant funds, remain the property of FAME until used for qualified higher education expenses.

FAME may terminate the NextGen Matching Grant Program at any time and may not be able to or may choose not to fund all matching grant requests.