An official website of the State of North Dakota

Bank of North Dakota

Home » News » College SAVE Reading Champion

Uncategorized

It’s easy! It’s fun! And when young readers knock out their summer reading, they become College SAVE Summer Reading Champions, earn up to $25 and have a chance to win $529!

The North Dakota State Library and Bank of North Dakota have partnered with local libraries to offer the College SAVE Summer Reading Champion campaign. College SAVE is the state’s 529 plan administered by BND that helps families save for college. There are over 35 libraries participating this summer!

Here’s how it works:

  • The reader will receive a College SAVE certificate when they meet the criteria for the local library’s summer reading program. The certificate can be turned in for either a $25 contribution to a new College SAVE account or $10 contribution to an existing account.
  • The librarian will also submit the reader’s name for a chance to win one of 10 $529 contributions to a new or existing College SAVE account.

College SAVE can be an excellent way to save for a child’s future. Anyone can open an account with as little as $25 for a child of any age. The accounts grow state and federal tax free when used for qualified higher education expenses or K-12 tuition at public, private and religious schools. Contributions are also tax deductible from North Dakota state income.

College SAVE match programs help families achieve more with college savings.

The New Baby Match offers $200 to every newborn in North Dakota when an account is started by the child’s first birthday. To receive the match, you must contribute $200 within 12 months from the date you open the account. The New Baby Match has no income restrictions.

The Kindergarten Kickoff Match offers $100 to North Dakota children entering kindergarten. To be eligible, the total $100 contribution needs to be received within 12 months of applying for the match and before the child turns seven years old.

The BND Match offers $300 for an account if the most recent adjusted gross income was $80,000 or less if single or $120,000 or less if married, filing jointly. The beneficiary can reside anywhere in the United States but must be 15 years or younger to receive the BND Match.

To learn more visit www.collegesave4u.com.