• These calculations are for hypothetical and general information purposes only. The information entered may vary from actual individual circumstances. The calculations rely on certain assumptions in addition to the information you provided and do not guarantee future performance of any investment option. The Finance Authority of Maine (FAME) will not be liable for any damages arising from the use or misuse of this calculator, reliance on calculated results, or from any errors or omission in the same.
• Any calculation does not take into account the costs or fees associated with (1) transferring assets between accounts, (2) the differences in the rate of return on investments within the account, or (3) investing in the Plan (i.e., total annual fee).
• This calculator allows you to enter your hypothetical annual rate of return. The default rate used in this calculation is 5% if you do not choose a different hypothetical rate of return. Investments that tend to earn a higher rate of return in the long run may be more subject to changes in value. There is no guarantee that you will receive the rate of return that you use in this calculation.
• The borrowing related information in the tool is for general information purposes and assumes the loan is made at a fixed interest rate where the rate remains constant over the life of the loan. The loan calculations include some simplifying assumptions. The interest rate used may or may not be applicable to your borrowing situation.
All investing is subject to risk, including the possible loss of the money invested.
For more information about the NextGen 529 Plan see the Program Description for details, which includes disclosure regarding investment objectives, risks, charges, expenses and other information, and read it carefully before investing.
If you are not a resident of Maine, consider before investing whether your or the designated beneficiary's home state offers any state tax or other state benefits such as financial aid, only available for investments in your home state's qualified tuition program. This tool does not constitute tax advice. Please consult your own tax advisor for more information on the tax implications of investing in a 529 plan based on your own particular circumstances.
The above tool is powered and maintained by Invite Education, LLC and the content is solely maintained by Invite Education, LLC and its suppliers and affiliates.
Investments in 529 college savings plans are neither FDIC insured nor guaranteed and may lose value.
This material is provided for general and educational purposes only, and is not intended to provide legal, tax or investment advice. Contact your attorney or other advisor regarding your specific legal, investment or tax situation.
