Future Faces of Maine 529 celebration to be held in PI
PRESQUE ISLE, Maine — The Finance Authority of Maine (FAME) has announced that it will hold Future Faces of Maine 529 celebrations at three locations around the state to raise awareness of the importance of planning for the expense of education after high school, offer assistance to open NextGen College Investing Plan accounts, have fun, and share helpful educational giveaways.
The celebrations are designed to recognize 529 College Savings Day, proclaimed by the U.S. Congress as a way to raise national awareness and boost interest in Section 529 college saving programs. The events will also encourage families to think about their children’s futures and to start planning now for the costs of education after high school.
In Aroostook County, the Future Faces of Maine event will take place Friday, May 29 from 4-7 p.m. at the Aroostook Centre Mall.
At each event, kids will have the opportunity to enjoy face painting and a photo booth, and parents can talk to a NextGen representative for information about and help opening a NextGen account. For those who already have accounts, NextGen representatives will share information about expanded matching grants, including the one-time $100 Automated Funding Grant. Every child who attends will receive a Future Faces of Maine Starter Pack — a lunch bag filled with educational information and other giveaways. The first 150 families to attend each event will also receive a $25 Amazon gift card. Families do not need to open a NextGen account to receive the Starter Pack or gift card.
“These events offer a great opportunity for families in Maine to begin planning for higher education,” said FAME CEO Bruce Wagner. “College affordability can be a concern for Maine families, but FAME is here to help.”
Wagner added that FAME has set a goal to grow the number of Maine citizens with quality in-state jobs. Providing educational events such as these is one way to accomplish that goal, he said.
“At tuition time, every dollar in a college investing account is one that does not need to be borrowed and repaid later with interest,” said Wagner. “Children with college savings are almost seven times more likely to pursue higher education.”
Families with children who are eligible for the $500 Harold Alfond College Challenge Grant may open a NextGen account without making an initial contribution. For every baby born to a Maine resident since 2013, the Alfond Scholarship Foundation invests a $500 Alfond Grant for his or her future qualified higher education expenses.
For more information, log onto FAMEmaine.com/NextGen.
