Congratulations! You may be the parent of a future college graduate! When you see the promise in your son's eyes or the eagerness of your daughter's smile, you know they're going places and you want to be sure you can help them get there. Whether your child is a newborn or a new teen, now is the time to dream big and consider investing.
The NextGen College Investing Plan is a Section 529 plan offering significant tax benefits to families investing for qualified higher education costs.
- Any earnings have the potential to grow tax-deferred.
- Withdrawals, including any earnings, to pay for qualified higher education expenses for your beneficiary will be federal (and possibly state) income tax-free.1
- NextGen offers many investment choices designed to fit your family's risk tolerance and time horizon.
- You can choose to make contributions whenever you want, or automatically from a bank account or through payroll deduction.
If you have more than one child you need to invest for, you'll want a separate account for each child.
Once you open a NextGen account, anyone can make contributions to help
make those big dreams a reality! For example, family members and friends
can choose to contribute, making your NextGen account a great idea for
birthday gifts, graduation presents and holiday giving. Click
here for information on how to enroll today!
Maine Residents can call 1-800-228-3734.
Please remember there is always the potential of losing money when you
invest in securities.
1 To be eligible for favorable tax treatment afforded to any earnings portion of withdrawals from Section 529 accounts, such withdrawals must be used for “qualified higher education expenses,” as defined in the Internal Revenue Code. Any earnings withdrawn that are not used for such expenses are subject to federal income tax and may be subject to a 10% additional federal tax as well as state and local income taxes.