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NextGen Matching Grants Increase

NextStep Matching Grant Increases to $300

The NextStep Matching Grant provides a 50% match on contributions, up to $300 match per year.

 

Automated Funding Grant Increases to $100
The Automated Funding Grant will increase to $100 for accounts that contribute automatically from a checking or savings account or through a payroll deduction. 

 

Changes are effective January 1, 2015. Learn more about grants for Maine residents.

Notice Regarding Fees:

Effective January 1, 2015, the $50 annual Account Maintenance Fee will be eliminated for ALL Client Select Series accounts.

Important Information regarding Investment Changes On December 19, 2014, the President of the United States signed into law the Achieving a Better Life Experience (ABLE) Act of 2014.  Among other things, the ABLE Act increases the opportunity for an owner of a Section 529 college savings plan account to make an investment change from once to twice in a calendar year, in addition to upon a change of beneficiary.  The ABLE Act applies to taxable years beginning after December 31, 2014.  As a result, NextGen account owners may change their existing investment choices twice per calendar year, and upon a change of beneficiary, beginning in 2015.  As always, account owners may change their future investment choices at any time.  

NextGen Investment Plan Options 

NextGen offers the Client Select Series and the Client Direct Series, each with different investment options and expenses.

The NextGen Client Direct Series is available for self-directed investors – those who do not seek professional advice about choosing among the available NextGen investment portfolios. 

The NextGen Client Select Series offers a broader choice of investment options than offered in the Client Direct Series, with a different expense structure. The Client Select Series is available for those investors seeking professional advice from a financial advisor. Client Select Series enrollment materials are only available through Merrill Lynch financial advisors and authorized Maine Distribution Agents.

 

Please remember there's always the potential of losing money when you invest in securities.

 

Important Notice: The NextGen College Investing Plan® does not endorse or promote any third-party Web sites, referred to as “accommodators,” that provide services to facilitate contributions to a NextGen account. These accommodators may charge fees in connection with their services. Neither FAME nor Merrill Lynch has authorized any accommodator or other third-party Web site to promote or submit contributions to a NextGen account. Anyone who chooses to contribute through these Web sites submits contributions at their own risk, and proper credit or investment to the account cannot be guaranteed or confirmed by Merrill Lynch or FAME.

LEARN MORE ABOUT...

The NextGen College Investing Plan® is Maine's Section 529 Plan. A Section 529 Plan is an investment plan offered by a state to help families achieve their dreams of providing funding for higher-education costs.  It’s called a 529 Plan because it’s named for Section 529 of the Internal Revenue Code.  NextGen is administered by the Finance Authority of Maine (FAME).  Merrill Lynch, Pierce, Fenner & Smith Incorporated is the Program Manager.

Visit the FAQ Page for answers to the most common NextGen and 529 Plan questions.  FAME is here to help you, please contact us at NextGen@famemaine.com or at 1.800.228.3734 with any additional questions you might have.