All Things Maine
All Things Maine

Saturday, January 21, 2006

Maine Babies Get $50 Bonus

Every baby born in Maine this year will get $50 to start a college fund.
Parents of every one of this year's newborns will be notified that they're eligible for the $50 in college start-up money. The money does not come from the state's general fund, but rather from administrative fees collected on NextGen accounts nationally, FAME's Ann Haskell said Friday.

A portion of that money comes back to the Maine program. Some is used for scholarships, and some to reduce initial fees for Maine participants. [Link]
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