Guide Note: Dexter Shoe Co. founder Harold Alfond arranged before his death in November of 2007 to leave a $500 grant, to be used towards college tuition, for every child born in the state of Maine. The Alfond Grants will go statewide in January of 2009 and will be organized by the Maine state government.

Fast Facts:

Alfond Grants must be established by the child's first birthday
Alfond's Foundation estimates payouts of about $7 million per year
Alfond himself had not attended college

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Alfond Grants

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FoxNews.com: Maine Shoe Company Founder Leaves Every Child Born in State $500 College Down Payment (December 11, 2007)
- Statement left by Alfond: "I always like helping others...making sure everybody, especially children, have a chance in this world."

Kennebec Journal: Alfond’s pockets deep, more than likely open (November 16, 2007)
- Alfond's foundation has given away more than $100 million since it was founded in 1950. In addition to the college grants, the group recently pledged $15 million to the Thomas College Athletic Center and $5 million for a cancer center at MaineGeneral Hospital.

WSJ.com: "In Maine, a Head Start On Saving for College" (December 11, 2007)
- Statement from Chariman of Harold Alfond Foundation board: "Mr. Alfond's vision was that the best place to start college savings was at birth."

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Alfond Grants Background

The New York Times: "Harold Alfond, Donor and Shoe Factory Owner, Dies at 93" (November 17, 2007)

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