Charting the Course
Plan for the future and help make it affordable.
Will your student soon be approaching life after high school? College, trade school, certificate programs…whatever it might be, get a head start with these comprehensive guides that equip you with the tools and resources to navigate both planning and finances successfully!
A Guide to Planning
It’s never too early… or too late to start!
Here are some tips to help you prepare for your student’s future beyond high school, whether they are in elementary school or close to graduating!
| Tip | Tool |
|---|---|
| Are you new to the world of education after high school? Take a breath – it’s a time of exploration with as many paths as there are students. But first, make sure you take the time to understand what higher education is all about! | Visit this resource to explore just what college—and planning for college—can mean. |
| Students can often pick up the financial behaviors of their families. Modeling responsible financial behavior throughout your children and teen’s development will help them make responsible financial decisions as adults. | Here are some resources to help you plan (and save!) for your student’s future, no matter what age they are. |
| Chart a path towards financial freedom. | Join Enrich®, a free personal finance platform provided by Finance Authority of Maine. FAME provides a variety of resources to support you on your journey toward lifelong financial wellness. |
| You don’t need to navigate college prep alone! | Your crew from FAME is right here, always ready to help! You can also utilize your child’s school counselor, Student Support Services, and programs like JMG, TRIO, or Gear Up for guidance applications, financial aid, and more. |
A Guide to Affording
Turning “Maybe” into “Definitely!”
Affording education beyond high school doesn’t have to be out of reach. Here are some practical tips and tools to help navigate the financial landscape.
| Tip | Tool |
|---|---|
| Take Stock of Your Resources | ✓ Get a clear picture of what you have for savings. The Alfond Grant was $500 when it was awarded but was invested so its value has changed over time. ✓ If the Alfond Grant was linked to a NextGen 529 account, you can view the grant’s value on your NextGen 529 statement or when you log in to view your account online. ✓ Whether or not you have a NextGen 529 account, you can view the value of The Alfond Grant on a website managed by the Finance Authority of Maine. You will need to create an account, verifying important information (the birth mother and child’s name as it is listed on the legal birth certificate, hospital name, and date of birth). |
| Craft a Plan to Save | ✓ To help figure out how to pay for college, we’ve created this guide. ✓ Now estimate future college costs. Consider factors like tuition increases and living expenses. This tool can be a helpful resource. ✓ Factor in your Alfond Grant and NextGen 529 savings. Knowing how much you have available will help determine how much additional savings, financial aid or scholarships might be needed. |
| Keep Saving (if possible!) | ✓ Every additional dollar saved can make a big difference. Even small, regular contributions can add up over time. Save what you can, when you can! ✓ FAME “Start to Save” page offers tips and tools to help you develop a college savings strategy ✓ Consider a NextGen account if you don’t have one! When used for qualified higher education expenses, every dollar in a NextGen 529 account is a dollar that doesn’t need to be borrowed and repaid with interest. And you can take advantage of Matching Grants for Maine residents! These grants can really boost your savings, adding more to your money. ✓ Encourage your high school student to save a portion of their summer earnings for higher education expenses. Not only is it good to get in the habit of saving, a few summers’ earnings can really add up and help! (and those earnings can even go into their NextGen 529 account). |
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