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BISMARCK, ND – Four young North Dakotans have jumpstarted their college
savings plans with a $529 award from Bank of North Dakota (BND). Each award
will be placed into the recipients’ College SAVE 529 plan accounts. College
SAVE is North Dakota’s state-sponsored, tax-advantaged 529 college savings
plan administered by Bank of North Dakota.
On May 29, BND sponsored 529 College Savings Day, which included events at zoos in Bismarck and Minot. Each event featured a random drawing for a $529 award, along with other festivities celebrating planning for college. The winner of the Bismarck drawing was Lynsey Morrell of Mandan, age 17, and the winner of the Minot drawing was Alexis Taft, age 7. “This was such a great event,” said Jennifer Taft, Alexis’ mother. “Now that I’m more informed about the rising costs of college, I plan to make additional contributions to her account.”
There was also a statewide drawing comprised of participants in the Zoo Day events at both locations and other residents who responded to a general mailing promoting the drawing. The winner of the statewide drawing was 7- year-old Isaac Dinius of Dickinson. An additional winner was selected at the North Dakota State Fair from individuals who registered at the event. Ten-year-old Emily Christmann of Kindred won a $529 award in July.
September is recognized as College Savings Month, where families are encouraged to plan ahead for the cost of college attendance.
“Bank of North Dakota is proud to assist these families as they look for beneficial ways to save for college,” explained Eric Hardmeyer, Bank of North Dakota President. “College is important and we look forward to hearing about the success of these future graduates.”
For
more information about North Dakota’s College SAVE Plan, call 1-866-SAVE-529
(1-866-728-3529) or visit www.collegesave4u.com 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. Upromise Investments, Inc. serves as Distributor
and Underwriter.
If you are not a North Dakota taxpayer, consider before investing whether your
or the designated beneficiary’s home state offers any state tax or other
benefits that are only available for investments in such state’s qualified
tuition program.
The College SAVE Plan is a 529 plan established by the State of North Dakota.
Bank of North Dakota acts as trustee of the College SAVE Trust and is
responsible for administering the Plan. Upromise Investments, Inc., and
Upromise Investment Advisors, LLC, serve as the Plan Manager and Recordkeeping
and Servicing Agent, respectively, with overall responsibility for the
day-to-day operations, including effecting transactions and marketing and
distribution of the Plan. The Vanguard Group, Inc. provides underlying
investments for the Plan. The Plan’s Portfolios, although they invest in mutual
funds, are not mutual funds. Units of the Portfolios are municipal fund
securities and the value of units will vary with market conditions.
Investment returns are not guaranteed, and you could lose money by investing in
the College SAVE Plan.
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