NextGen Initial Matching Grant
matching_grant_logo
Maine families can receive a $200 Initial Matching Grant
when opening a NextGen account with just $50!


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

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

What Else Should I Know?

  • To receive an Initial Matching Grant, the completed 2008 NextGen Grant Certification must be received by FAME within twelve months from the date the NextGen account is opened. 

  • The Initial Matching Grant will be applied based on the income eligibility level in effect in the year in which the NextGen account is opened.

  • Eligible account owners can combine the $50 First Step Grant with the $200 Initial Matching Grant to make a $250 contribution to open the account. No other initial contribution is required.

  • FAME will deposit your $200 Initial Matching Grant directly into your eligible NextGen account within 120 days after receipt of the Certification.

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

2009 Annual Matching Grant Program:  Eligible NextGen accounts can receive an Annual Matching Grant, matching 50% of amounts contributed in a calendar year to the account up to a maximum annual grant of $200.  For example, if $200 was contributed in 2008 to an eligible NextGen account, the account can receive a $100 match in 2009.

2009 NextGen Annual Matching Grant Certification becomes available in 2009.


How Do I Apply?

  • Complete the applicable sections of the 2008 NextGen Grant Certification.  Be sure to check all certification boxes that apply and sign the Certification.

  • If this is a new NextGen account, complete a NextGen account Application. 

  • FORWARD IN THE SAME ENVELOPE:

    • 2008 NextGen Grant Certification; and

    If this is a new NextGen account:

    • NextGen account Application; and

    • Initial contribution of at least $50 (made payable to “NextGen College Investing Plan FBO Designated Beneficiary).
      If applicable, the $50 First Step Grant may be used as the initial contribution

      • If you are also claiming a First Step Grant:

    • Completed 2008 NextGen Grant 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 will appear on your client's NextGen account statement, 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.