State officials announce college saving program

AUGUSTA – Gov. Angus King, State Treasurer Dale McCormick and Charles J. Spies, chief executive officer of the Finance Authority of Maine, announced new opportunities for Maine families to save and invest for college.

Maine families with an adjusted gross income of $50,000 or less may now apply for the NextGen Matching Grant Program, a program that encourages investing for higher education by matching a portion of NextGen account contributions.

The NextGen Fee Rebate Program benefits all Maine NextGen accounts by rebating a portion of program administration fees to all Maine account holders. The NextGen College Investing Plan is a qualified tuition program under Section 529 of the Internal Revenue Service Code.

The NextGen Matching Grant & Fee Rebate Programs were established to help Maine families of all financial means invest for higher education.

For information on the NextGen College Investing Plan and the NextGen Matching Grant Program contact FAME at (800) 228-3734 or visit www.famemaine.com.