The My Alfond Grant Program announces huge milestone

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AUGUSTA, Maine (WABI) - The Harold Alfond Foundation announced a big milestone Tuesday.

They've officially invested $50 million in the future education of 100,000 children.

All babies born Maine residents are granted $500 at birth for higher education.

The foundation says the My Alfond Grant Program gives families and kids dreams of reaching their goals.

"What I love about the program is it's both a practical piece, that's real money in a real account for these kids for their future education," said Colleen Quint, President and CEO of the Alfond Scholarship Foundation. "But it's also an aspirational piece. It's about really get kids and families to think about all the possibilities the future could hold for with access to that higher education."

Every baby born a Maine resident has received this grant since January 1, 2013.