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North Dakota's College SAVE, managed by Ascensus College Savings, offers 9 investment options: three age-based options and six individual portfolios managed by Vanguard. Accounts can be linked to the Upromise rewards service.
Savingforcollege.com's 5-Cap Ratings provides an evaluation and comparison of 529 plans, utilizing a formula that examines dozens of factors grouped into the following categories. (Scale 0 to 5; 5 is highest)
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Did you know?
Residents are not limited to investing in their own state's plan. Another state may offer a plan that performs better and has lower fees. If there is no tax break offered for in-state investors ... shop around!
Also, the plan chosen does not affect which state the student enrolls in. An investor can live in NY, invest in a plan from NV and send a student to college in FL.
2001, but substantially changed in November 2006
Bank of North Dakota
Ascensus College Savings
Ascensus College Savings
Through August 11, 2018.
U.S. citizens and resident aliens at least 18 years old, UTMA/ UGMA custodians, trusts, state/local governments, and 501(c)(3) organizations.
Accepts contributions until all account balances in North Dakota's 529 plan for the same beneficiary reach $269,000.
The minimum initial contribution is $25 and the minimum subsequent contribution is $25.
There are 3 age-based options (Conservative, Moderate, and Aggessive), each containing up to 5 investment portfolios. Contributions are placed into the portfolio corresponding to the selected option and age of the beneficiary, and later reassigned to more conservative portfolios as the withdrawal date draws nearer.
6 asset allocation portfolios are offered. The Aggressive Growth, Growth, Moderate Growth, and Conservative Growth portfolios invest in Vanguard stock and bond index funds. The Income Portfolio invests in a Vanguard bond index fund, inflation-protected securities fund, and a money market fund. The Money Market Portfolio invests 100% in the Vanguard Prime Money Market Fund.
Vanguard mutual funds.
Click here, you need Microsoft Excel to open this document.
Click here to visit, link to the program website containing most current performance data.
Fees & Expenses
$20 annually, waived for North Dakota residents.
0.85% manager fee; fee includes underlying fund expenses and the 0.10% fee to the state.
N/A, included in the program management fee.
Taxes and other Benefits
The Matching Grant Program provides a one-time match of contributions up to $300 per beneficiary for North Dakota participants with incomes below $80,000 (single) or $120,000 (joint). Contributions within 12 months of the account opening are eligible for the match. The beneficiary must be 15 years of age or younger. For participants with incomes below $60,000 (single) or $80,000 (joint), the match is available for an additional two years. An additional matching program, Children FIRST, provides a North Dakota resident child 12 months or younger to be considered for a grant in the amount of $200. Children FIRST participants must enroll in CollegeSAVE and contribute $200 prior to the child's first birthday to qualify for the match.
Contributions to the North Dakota 529 plan of up to $5,000 per year by an individual, and up to $10,000 per year by a married couple filing jointly, are deductible in computing North Dakota taxable income. Contribution deadline is December 31.
Investment time horizon:
18 yrs (i.e. newborn): 0.14% annualized
10 yrs (i.e. 8-yr old): 0.25% annualized
2 yrs (i.e. 16-yr old): 1.27% annualized
Based on 3.22% ND tax rate. (For assumptions see 529 State Tax Calculator.)
Qualified distributions from North Dakota and non-North Dakota 529 plans are exempt.
North Dakota follows federal tax-free treatment.
Does participation in the program provide beneficiaries with any advantages in qualifying for resident tuition status at state institutions?
Yes, with the Upromise rewards service.
Under North Dakota law, the interests of the participant and designated beneficiary in an account under the North Dakota 529 plan are not subject to attachment or alienation by third-party creditors.
Distributions & Terminations
Eligible educational institution, beneficiary, or account owner, as directed by the account owner.
Accepts requests to transfer account ownership.
Documents, Access & Reporting
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