General InformationDownload PDF Report
College SAVE (Advisor)
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. In May 2017, the plan added an advisor-sold share class. Accounts can be linked to the Upromise rewards service. To find a financial advisor in your area, use the Directory of Financial Professionals.
- Program typeSavings
- Inception2001 but substantially changed in November 2006; Advisor class units added in 2017
- State agencyBank of North Dakota
- Tax deductionTax deduction for single filers $5,000/yrTax deduction for joint filers $10,000/yr
- Program ManagerAscensus College Savings
- Program distributorAscensus College Savings
- Manager contract termUNLOCK PRO
Ratings & Rankings
Our overall rating for non-residents
This is a very good program that offers valuable benefits but may have some limitations or concerns that investors need to know.
Each plan's performance score is developed directly from Savingforcollege.com's Quarterly 529 Performance Rankings. A 529 savings plan must have at least one year of performance history before they will be assigned a 5-cap rating. For those plans that are not part of our quarterly performance rankings, such as plans offering a single set of bank-based investment options, we assign a performance score by evaluating the returns currently available on similar types of investments outside of 529 plans.
State residency requirements:None
Who can be a participant/owner in the program?U.S. citizens and resident aliens at least 18 years old, UTMA/ UGMA custodians, trusts, state/local governments, and 501(c)(3) organizations.
Significant time or age restrictions imposed by the program:None
Maximum contributions:Accepts contributions until all account balances in North Dakota's 529 plan for the same beneficiary reach $269,000.
Minimum contributions:The minimum initial contribution is $25.00 and the minimum subsequent contribution is $25.00 ($12.50 for payroll direct deposit.)
Age-based investment options: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.View more age-based investment options
Static investment options:Six 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 Vanguard bond index funds, inflation-protected securities fund, and the Vanguard Short-Term Reserves Account. The Interest Accumulation Portfolio invests 100% in the Vanguard Short-Term Reserves Account.View more static investment options
Underlying investments:Vanguard mutual funds.View a full list of this plan's investment options
Underlying fund allocations:UNLOCK PRO
Portfolio Fees & Performance LookupUNLOCK PRO
Fees & Expenses
Enrollment or application fee:None
Account maintenance fee:$20 annually, waived for North Dakota residents.
Program management fees:0.70% to 0.72% (includes 0.10% fee to the state), plus distribution fee of 0.30%; 0.47% for the Interest Accumulation Portfolio (distribution fee is waived)
Expenses of the underlying investments:0.03% to 0.08%
Total asset-based expense ratio:0.85%; 0.55% for the Interest Accumulation Portfolio
Taxes and other Benefits
- Tax deduction for single filers$5,000/yr
- Tax deduction for joint filers$10,000/yr
Married filing jointly residents contributing $100/month can expect an additional $0 a year in tax savings.