Alfond commits $23M to college scholarships
The Alfond Scholarship Foundation announced Monday that more than $23 million has been committed to fund the $500 Harold Alfond College Challenge Grant for eligible Maine resident babies.
A year ago, on the 100th anniversary of Harold Alfond’s birth, the foundation announced it would invest, retroactive to Jan. 1, 2013, a $500 Alfond Grant for every baby born a Maine resident. The grants are to be used for future higher education expenses, according to a press release announcing the milestone.
The first Alfond grants were offered as a pilot in 2008 to babies born at MaineGeneral Medical Center. In January 2009 the grants were offered statewide to all Maine babies. As of the end of February, the foundation has committed a $500 Alfond Grant to more than 46,000 children.
Maine is the first state in the nation to award this kind of grant for all babies born residents of the state. Since last year’s announcement, the Harold Alfond College Challenge has achieved national recognition, serving as a model for other states that are considering this kind of program.
The Alfond Scholarship Foundation is the nonprofit organization that manages the Harold Alfond College Challenge.
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