The Harold Alfond College Challenge is the name of the program that awards the $500 Alfond Grants. It was created by Harold Alfond, the Maine businessman and philanthropist. Mr. Alfond believed that every child born in Maine should have an opportunity for higher education. Thanks to his hard work and generosity, all Maine resident babies now have a $500 Alfond Grant to help pay for college, trade school or other post-high school education.
In the first five years of the program, parents were required to open their own college account by the child’s first birthday in order to be awarded the $500 Alfond Grant. For all Maine resident babies born in 2013 and later, the Alfond Grant is now awarded automatically.
By the beginning of 2017, more than $35 million has already been invested for over 70,000 Maine children!
The Alfond Scholarship Foundation is the Maine non-profit organization that manages the College Challenge.
The Harold Alfond Foundation is the private family foundation that funds the grants as well as administers the costs of the program.