Are you looking for the perfect birthday gift for your niece or nephew? How about an annual Christmas present for a child, grandchild, or sibling that does not require wrapping paper or bows? Consider investing in your family’s higher education today with a NextGen® account and help ease the financial burden of a loved one’s higher education.
The NextGen College Investing Plan® is Maine’s Section 529 plan that allows you to plan and invest for future higher education expenses for your family. Opening a NextGen account for your child (or yourself ) is a real investment in the future, and there are grants available for Maine residents. Any earnings in a Section 529 plan are tax-free when used to pay for qualified higher education expenses. It’s never too early to start planning ahead and opening an account now can make a big difference over time, especially by reducing the amount of interest accrued through loans.
Anyone can open a NextGen account for extended family members or friends. Thinking about going back to school? You can also open an account for yourself!
1. Open your account
- With $25 and get a $200 Initial Matching Grant
- Use the $500 Alfond grant
2. Add to your account
- Make contributions and get a 50% NextStep Matching Grant with up to $300 match per year.
3. Make it easy
- Set up Automatic contributions from your payroll or bank account and get a $100 Automated Funding Grant.
NextGen offers a variety of investment options in two separate series for self-directed investors and for investors seeking professional advice from a financial advisor (please remember that there’s always the potential of losing money when you invest in securities).
For more information and to learn how to open an account visit NextGenforME.com.
* See Grant Terms and Conditions for other conditions and restrictions that apply at NextGenforME.com.
NextGen is a Section 529 plan administered by the Finance Authority of Maine (FAME). Before you invest in NextGen, request a NextGen Program Description from your Merrill Lynch Financial Advisor or Maine Distribution Agent or call Merrill Edge at (877)-463-9843 and read it carefully. The Program Description contains more complete information, including investment objectives, charges, expenses and risks of investing in NextGen, which you should carefully consider before investing. You also should consider whether your or your designated beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s 529 plan. Merrill Lynch, Pierce, Fenner & Smith Incorporated, a registered broker-dealer, member SIPC, is the program manager and underwriter.