It takes more than a car to get your kid to college!
Congratulations on the purchase of your new vehicle. Your timing is great, because in addition to the new wheels, you’ve received a certificate to redeem for a contribution into a new or existing College SAVE account.
If you’ve never heard about College SAVE or 529 plans, we encourage you to spend some time on our website to learn more. College SAVE is administered by Bank of North Dakota (BND) and is North Dakota’s 529 plan. A 529 plan is IRS terminology for a special college savings account which allows for tax-deferred earnings, tax-free withdrawals and an in-state tax deduction. North Dakotans are eligible for two different grant programs.
- Children FIRST: A $200 grant given to every newborn in North Dakota when an account is opened for an infant up to 12 months of age. Someone must place up to $200 in the account to receive the $200 grant from BND.
- Matching Grant: Up to $300 per year for up to three years, depending on income level and the amount placed in the account. However, the income levels are so generous that four out of five North Dakotans qualify for at least one year of the Matching Grant.
Participating North Dakota Auto Dealers
Find one near you that will contribute to your new or existing College SAVE account when you purchase a new car!
Bismarck - Eide Ford, Eide Chrysler and Eide Hyundai - $100
Bismarck – Bismarck Motor Company - $100
Cavalier – Birchwood Chevrolet Buick - $100
Devil’s Lake – Lake Toyota, Lake Chevrolet Buick GMC, Marketplace Ford - $100
Dickinson – Sax Motor Co. - $100
Grand Forks – GF Subaru Kia - $100
Hettinger – RZ Motors - $100
Jamestown – R.M. Stoudt - $100
Jamestown – Don Wilhelm - $100
Fargo – Valley Imports - $100
Mandan - Kupper Chevrolet-Subaru - $150
Mandan – Schwan Buick GMC Cadillac - $100
Minot – Ryan Chevrolet, Ryan Nissan, Ryan Honda, Ryan GMC Buick Cadillac - $60
Rolla – Theel Motors - $100
Wahpeton – Vision Ford - $100
Williston – Ryan Motors - $60
Wishek – Jim Weber Ford - $100
Finley – Finley Motors - $50
To redeem the College SAVE certificate you received from the dealer:
1. Complete the certificate with the information requested.
2. Send the certificate by postal mail to:
Bank of North Dakota attn: College SAVE
1200 Memorial Highway
Bismarck, ND 58504
3. The amount on the certificate will be deposited in the account you designate on the certificate.
4. All certificates must be postmarked by midnight, December 31, 2017 to be valid.
Questions? Contact James Barnhardt, Director of College SAVE.
1.800.472.2166 ext 328.5882
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.