What if someone who has an Alfond grant moves out of state, or goes to college somewhere besides Maine?
The grant can be used whether or not the participating student lives in Maine or goes to college in Maine
For the first five years of the program (2008-2013) the grants were made when someone opened a 529 NextGen account before the baby’s first birthday. Beginning in 2014, all Maine resident babies will be automatically enrolled in the program. (Parents are always given an option to Opt Out if they wish). Because many babies born in 2013 have not yet had a chance to enroll before their first birthday, they will also be automatically enrolled if they do not already have their own account.
The Harold Alfond College Challenge (HACC) is the program run by the Alfond Scholarship Foundation through which a $500 grant for future college education is provided to Maine resident babies.
For more information about the grant program, visit www.500forbaby.org
The Alfond Scholarship Foundation is a non-profit 501(c)(3) organization whose creation was supported by the Harold Alfond Foundation to run the Harold Alfond College Challenge. The Alfond Scholarship Foundation receives financial support from the Harold Alfond Foundation, and derives it non-profit status as a supporting organization of a half-dozen Maine educational and non-profit entities.