The second way to get grants in the Next Gen program is to make contribution and get a 50 percent NextStep Matching Grant up to $300 per year. Finally, for those who set up automatic contributions from a payroll or bank account, they receive a $100 automated funding grant.
“You invest in your child’s future every day, whether cheering them on at school activities, helping with homework or even just offering a supportive hug. Opening and contributing to a NextGen account can help your child succeed too.”
The money in a 529 plan are earmarked for higher education no matter the age of the student. The money grows tax free and beneficiaries can be changed.
529 plans can be set up by financial advisors like those at Modern Woodmen in Windham.
For more information on the Alfond, visit www.500forbaby.org. For more about NextGen, visit www.nextgenforme.com.