NextGen is a 529 College Savings Plan administered by the Finance Authority of Maine. Eligible new accounts can get up to $200 for setting up the account and making an initial contribution and then up to $300 match per year.
Amy and I put $200/month into ours. College is getting wicked expensive but this should really help.
529 plans are tax-advantaged ways to save for college. The Maine tax situation on them is too complex to explain in a blog posts, but the matching possibilities make our Maine plans pretty good. Sign up here.
The very generous Alfond Family also makes a $500 grant for college savings. Here’s where you can learn about that.
(Disclaimer: you may not be able to qualify for either grant and probably not both.)
So, are you enrolled in a 529 plan? What’s your experience been?