Maine 529 Plan

Saving for College in Maine

There are two 529 plans offered in Maine to help families save money for college.

NextGen College Investing Plan - Direct Series

This plan sponsored by Finance Authority of Maine and managed by Merrill Lynch offers 6 investment options from some of the nations leading invemstment banks to save for college.

Tax Benefits of NextGen College Investing Plan - Direct Series

  • You can deduct up to a $250 tax deduction per beneficiary if your Maine income is $100,000 or less if a single filer and $200,000 or less for married joint filers or heads of household are eligible.
  • All earnings are tax exempt from the federal and state income taxes.

    How to enroll

    You can learn more or enroll by going to www.nextgenplan.com

    NextGen College Investing Plan - Select Series

    This plan sponsored by Finance Authority of Maine and managed by Merrill Lynch offers 27 investment options from some of the nations leading invemstment banks to save for college.

    Tax Benefits of NextGen College Investing Plan - Select Series

  • You can deduct up to a $250 tax deduction per beneficiary if your Maine income is $100,000 or less if a single filer and $200,000 or less for married joint filers or heads of household are eligible.
  • All earnings are tax exempt from the federal and state income taxes.

    How to enroll

    You can learn more or enroll by going to www.nextgenplan.com