With the cost of college rising every year, each dollar you invest will make a difference. College SAVE is a simple way to keep more of your money working toward college savings, by offering:
- No enrollment fee for opening an account.
- Annual account maintenance fee of $20 is waived if participant or designated beneficiary is a North Dakota resident.
- Low annual asset-based plan fees of 0.85%. For example, if you invest $1,000, the annual fee would be $8.50.
How much should you contribute?
The simple answer is, as much as you feel comfortable contributing. You can choose to invest small amounts regularly through automatic deductions from your paycheck or bank account. Or, make larger contributions when you can. The most important thing is to start...and stick with it.
The College SAVE Plan offers flexible options and high contribution limits:
- Annual contribution limits of $14,000 per year ($28,000 if married, filing jointly); you can always contribute more, but additional amounts may be taxable
- Maximum balance of $269,000 per account
- The ability to make five years' worth of tax-free gifts at one time, totaling $70,000 per designated beneficiary in a single year ($140,000 for electing married couples)1.
Start small, and make saving automatic.
Open a College SAVE account with as little as $25. You can also make recurring contributions with a minimum initial contribution of $25 per month, or $75 per quarter.2
Subsequent contributions may be made by check, money order, recurring contribution, payroll direct deposit, EBT, transfer from a Upromise account, third-party checks payable to a participant or a designated beneficiary and properly endorsed to the Plan, Ugift − Give College Savings, or a rollover.
1In the event the donor does not survive the five-year period, a pro-rated amount will revert to the donor's taxable estate.
2A plan of regular investment cannot assure a profit or protect against a loss in a declining market.
Ascensus Broker Dealer Services is the distributor of the North Dakota College SAVE plan, Learn more about Ascensus Broker Dealer Services, Inc. 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, Inc. (ABD) is Distributor of the College Save.
Before investing in any 529 plan, you should consider whether your or the designated beneficiary's home state offers a 529 plan that provides its taxpayers with state tax and other benefits that are only available through the home state's 529 plan. You also should 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 plan(s), or any other 529 college savings 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.