About the Grant
What is the Alfond Grant?
Maine businessman Harold Alfond took great joy in giving each of his grandchildren money for their higher education. Knowing what an important role higher education plays in a child’s future, he wanted to give that same headstart to all Maine children.
That’s why Mr. Alfond started The Alfond Grant, a program that invests $500 for qualified higher education expenses for every baby born a Maine resident since 2013.
How much has been invested?
As of January, 2021, over $58 million in Alfond Grants has been invested for 116,000 Maine children.
Who is eligible for the $500 Alfond Grant?
Children born as Maine residents in 2013 and later have automatically been awarded the Alfond Grant.
For every baby born a Maine resident since 2013, the Alfond Scholarship Foundation invests a $500 Alfond Grant for his or her future qualified higher education expenses. The Alfond Scholarship Foundation invests these funds until the child is ready to use them. The Alfond Grant can be used to pay for higher education expenses at eligible higher education institutions and must be used by the child’s 28th birthday.
Maine babies born between 2009 and 2012 (and 2008 MaineGeneral-born babies) receive the Alfond Grant if a NextGen 529 account was opened prior to the child’s first birthday.
Children born before 2013 for whom a NextGen 529 account was not opened by the first birthday deadline are no longer eligible for the Alfond Grant.
Alfond Grants can be used at eligible higher education institutions.
These include all accredited post-secondary institutions that are eligible to participate in Federal student aid programs – public universities, private college, graduate schools and vocational schools – even some schools that are outside the United States. The funds do not need to be used at a school in Maine.
Generally, you can use these funds to pay for the big-ticket items like tuition, room & board (if enrolled at least half time) – even books and supplies – including computers!
For more information, check out our FAQs page.
For more information about the Alfond Grant and eligibility, click here.
And now it’s up to you!
Mr. Alfond started your child’s higher education savings, and now it’s up to you to continue investing for his or her future. The Alfond Scholarship Foundation is here to help with our MyAlfondGrant (MAG) program, sharing resources and information to help Maine children on their journey to higher education.
Help us create a bright future for every Maine child!