You’re enjoying every milestone your baby reaches. But did you know there are some things you can do now to help them reach higher education milestones as they grow older?
Higher education is any education beyond high school. This includes trade schools and community colleges, as well as public and private colleges and universities.
Tips for Success
The things you do now can make a big difference for your child’s future. Here are some key things you can do to help your infant and preschooler succeed:
- Point out jobs your children see people doing in your community. Talk about how people get paid to do the job.
- Help your child get ready for day care or preschool by visiting and talking about what it will be like.
- Read to your child. A love of reading starts at an early age. Visit RaisingReaders.org for lists of books and tips for reading to your young child.
Raising Readers promotes early childhood literacy and a love of reading by giving books to Maine children at birth and at well-child visits through age five. Visit RaisingReaders.org »
Invest in Your Child’s Future
Believe it or not, investing in your baby’s education after high school starts now!
- Every baby born a Maine resident on or after January 1, 2013 will have a $500 Alfond Grant automatically invested for his or her future education expenses.1
- Maine resident babies who have been awarded the Alfond Grant may use the grant to open a NextGen 529 account without the required initial contribution.
- Once you have a NextGen 529 account add money when you can — even just $5 a month can really help.
- Encourage family and friends to give the gift of education by making contributions to your baby’s NextGen 529 account.
1 The Alfond Grant is not automatic in all circumstances and is also available in limited other circumstances. The use of the Alfond Grant is also subject to certain restrictions. Visit nextgenforme.com/AlfondGuidelines for guidelines.
NextGen 529 is a Section 529 plan administered by the Finance Authority of Maine (FAME). You may obtain the NextGen 529 Program Description by requesting a copy from your financial professional, visiting NextGenforME.com or calling the program manager at 1-833-336-4529. The Program Description should be read carefully before investing.
The Program Description contains more complete information, including investment objectives, charges, expenses and risks of investing in NextGen 529, which you should carefully consider before investing. If you are not a Maine resident, you also should consider whether your or your designated beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s 529 plan.
NextGen 529 accounts are not bank deposits and are not insured by the Federal Deposit Insurance Corporation (FDIC). Returns on investments in NextGen 529 accounts are not guaranteed or insured by the State of Maine, FAME or any NextGen 529 service providers. NextGen 529 participants assume all investment risk of an investment in NextGen 529, including the potential loss of principal and liability for tax penalties that are assessable in connection with certain types of withdrawals of amounts invested in NextGen 529.
Vestwell State Savings, LLC is the program manager, The Bank of New York Mellon is the program custodian, BlackRock Advisors, LLC is the program investment manager, and BlackRock Investments, LLC, Member FINRA, is the program distributor and underwriter.