BANGOR -- There was a boost in college savings across Maine as the first babies of the new year arrived in the world.

All told, more than 14,000 babies expected to be born in the state this year will qualify for the Harold Alfond College Challenge, a scholarship program designed to help families save money for college as soon as a child is born.

The challenge provides a $500 scholarship, to be invested in a NextGen College Investing Plan account, for each newborn in Maine.

The funds come from the estate of the late Harold Alfond, the late founder of Dexter Shoe Co. and the state's first philanthropic foundation.