Enhancements to College SAVE help more North Dakotans

Bank of North Dakota is making even more money available through College SAVE grants to North Dakota residents who want to start saving for a child’s college education!

BND has doubled the grant amount of the Children FIRST program to $200. The Children FIRST grant is available to every newborn in North Dakota, regardless of family income, when a College SAVE account is opened prior to the child’s first birthday. Account owners have one year from the date the account is opened to match the $200 grant.

In addition, income levels have increased $20,000 – $30,000 across all categories of the North Dakota Matching Grant program. Families earning $120,000 federally adjusted gross income or less, and single people earning $80,000 or less, now qualify for a $300 grant for children ages 15-years-old or younger. For the following two years, families earning $80,000 or less and single people earning $60,000 or less may reapply and qualify for an additional $300 per year for each child. Grandparents may open a College SAVE Account and qualify for the grants.

College SAVE is a 529 college savings plan that helps families save for future college expenses. By investing money now, families can take advantage of programs like these, as well as special tax deductions and exemptions. It’s an easy, effective way to save that can decrease reliance on student loans in the future. Visit collegesave4u.com for more information.

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