Kids from North Dakota have some very big plans for the future. And for many, those plans will include a college education. That's why the State of North Dakota sponsors the College SAVE Plan.
As college costs continue to rise – experts say that college tuition, on average, triples every 17 years1 – College SAVE provides advantages that can help parents in North Dakota and nationwide give their kids the benefits of a college education.
Enjoy special tax benefits.
College SAVE offers many tax advantages that other savings vehicles don't, including:
Save in North Dakota, attend schools worldwide.
You can use your College SAVE account to pay for expenses at most eligible accredited, public or private, 2- and 4-year college, university and vocational schools worldwide.4 You can use your savings in the account for both undergraduate and graduate degrees.
Get a headstart on your savings with:
- BND Match, a program which offers up to $300 for North Dakota residents5
- Kindergarten Kickoff Match, a program offering to match up to a $100 account contribution for North Dakotans with kindergarten-age children.
- New Baby Match, a program that seeks to give $200 to every North Dakota newborn.
In addition, College SAVE offers a broad range of investment options, and you can open an account with just $25.
Managed by Industry Leaders
College SAVE is administered by Bank of North Dakota. Vanguard is the Investment Manager and Ascensus Broker Dealer Services, Inc. serves as Plan Manager.
1Twisdoms About Paying for College, Mark Kantrowitz, 2015
2Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
3Rollovers from another state's 529 plan are not eligible for the state income tax deduction.
4An eligible institution is one that is eligible for federal financial aid programs.
5Matching grants are subject to the availability of funds and can be modified, reduced or stopped at Bank of North Dakota's discretion.
Ascensus Broker Dealer Services is the distributor of the North Dakota College SAVE plan, Learn more about Ascensus Broker Dealer Services, LLC on FINRA's BrokerCheck.
For more information about North Dakota's College SAVE Plan (College SAVE), call 1-866-SAVE-529 (1-866-728-3529) or click here to obtain a Plan Disclosure Statement. Investment objectives, risks, charges, expenses, and other important information are included in the Plan Disclosure Statement; read and consider it carefully before investing. Ascensus Broker Dealer Services, LLC (ABD) is Distributor of the College Save.
Please Note: Before you invest, consider whether your or the beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state’s qualified tuition program. You should also consult your financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to contact directly your home state’s 529 college savings plan(s), or any other 529 plan, to learn more about those plans’ features, benefits, and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.
College SAVE is a 529 plan established by the State of North Dakota. Bank of North Dakota (Bank) acts as trustee of College SAVE Trust, a North Dakota Trust, and is responsible for administering College SAVE Trust and College SAVE. ABD, the Plan Manager, and its affiliates, have overall responsibility for the day-to-day operations of the Plan, including recordkeeping and marketing. The Vanguard Group, Inc. (Vanguard) provides underlying investments for the Plan. The College SAVE's Portfolios, although they invest in mutual funds, are not mutual funds. Units of the Portfolios are municipal securities and the value of units will vary with market conditions.
Investment returns are not guaranteed and you could lose money by investing in College SAVE. Participants assume all investment risks, including the potential for loss of principal, as well as responsibility for any federal and state consequences.
Not FDIC Insured. No Bank, State or Federal Guarantee. May Lose Value.
Vanguard and the ship logo are trademarks of The Vanguard Group, Inc. Upromise is a registered service mark of Upromise, Inc. All other marks are the exclusive property of their respective owners. Used with permission.