Saving for College
Saving for college is an investment in the future. The gift of a college education can open the door to a world of opportunity for you, your child or grandchild. The key is to start saving early and regularly. There are many options for saving for college.
Maine offers the Harold Alfond Grant which gives each child born in Maine $500.00 for their college fund. Parents and other relatives can also contribute to the child’s account.
The NextGen College Investing Plan® is a Section 529 Plan — designed to help families achieve their dreams of providing funding for higher-education costs for the next generation. Contact Finance Authority of Maine (FAME) to learn about matching grants and for other information about NextGen college savings plans.
US Saving Bonds are an investment that may be used tax free for college education.