Nearly 1,400 North Dakota students, ages 13-19, participated in Bank of North Dakota’s March Money Madness, a financial literacy event, which qualified them for a drawing for one of two $1,529 College SAVE scholarships.
The 2021 recipients are Annika Tweten from Jamestown High School and Jocelyn Kulseth from Bowman County High School.
College SAVE is the state-sponsored 529 plan administered by BND. An account grows state and federal tax deferred and can be opened with as little as $25. College SAVE has three match options available for North Dakota residents. The New Baby Match doubles a $200 investment before a newborn’s first birthday; the Kindergarten Kickoff Match is $100 for 5- to 6-year-olds, and the BND Match offers up to $300 for those who meet generous income guidelines. Residents can deduct contributions annually from their North Dakota taxable income.
In addition to funding expenses related to postsecondary education, a College SAVE account may also be used for private and parochial school tuition in grades K-12, approved apprenticeship programs and to repay student loan debt.
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Visit collegesave4u.com for more information.
