Next Gen. College Investment Helps Young Mainers Save Money

Updated 12 months ago

It’s no secret that college is expensive, but parents around Maine are getting an early start when it comes to saving.The Next Gen. College Investment held their Future Faces of Maine event on Saturday.Families with children under the age of one can receive a $500 grant from the Alfond foundation, while any child older than one receives $200.Organizers believe the key to making college affordable is to start saving as soon as you can.A Counselor for the Finance Authority of Maine, Mila Tappan, said, “This is different because any of the earning are tax free, so long as it’s used for higher education. Higher Education is defined as public schools, private schools, in state, out of state, two years, four years – as long as the program is accredited you can use it for those funds.”Families also got to participate in a photo shoot, which the foundation uses for pamphlets and promoting the scholarship.If you’d like to start a savings fun for your child you can call 1-800-228-3734.


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