• A NextGen account must be opened naming the Maine resident baby as the designated beneficiary and the signed First Step Grant Certification received by the Finance Authority of Maine (FAME) before the baby's first birthday. 

• Upon receipt of the signed Certification, FAME will verify the NextGen account is eligible to receive the $50 First Step Grant and notify the NextGen account owner with a letter of eligibility.  If ineligible, FAME will notify the account owner with a letter of explanation. 

• FAME will forward the $50 grant amount to the Program Manager for processing and investment of funds within 120 days from the date the Certification was received by FAME.

• First Step Grant funds are invested in the Matching Grant Portfolio and will remain the property of FAME until withdrawn for qualified higher education expenses.

• All grant funds will be invested at the discretion of FAME.  The account owner has no ability to direct the investment of grant funds.

• The Program Manager will mail a trade confirmation to the account owner once grant funds have been invested in the NextGen account.  Grant funds will appear as an investment in the Matching Grant Portfolio on the NextGen account statements.

• See the First Step Grant Terms and Conditions for other restrictions that apply.

Send Certifications to:

NextGen College Investing Plan
c/o Finance Authority of Maine
PO Box 949
Augusta, ME 04332-0949