and the Bank of North Dakota (BND) are teaming up to help kids and encourage college savings for the month of September. College SAVE, is a state program that helps families save for college tax-free.
HOW IT WORKS
When you purchase a new vehicle from Eide Chrysler, BND will offer a $50 College Save contribution. Eide Chrysler will also match the contribution with another $50 to the program. Eide Chrysler and BND feel that this is a terrific investment for any child's future.
What is College SAVE?
College SAVE is Bank of North Dakota’s 529 college savings plan.
- Accounts can be opened for any age child in order to pay for college.
- Earnings grow tax free when used for qualified higher education withdrawals at any college in or out of state.
- Qualified withdrawals are for tuition, room and board, books, fees and even computers.
- Annual administrative fees are waived for ND residents and investments are through Vanguard portfolios.
Match programs with BND
Plus there are
two significant match programs that total up to $1,100 from BND. Families can qualify for both programs for their newborns.
- The first $200 match is for ND newborns when an account is opened prior to the child’s first birthday.
- The second is an income based match of $300 when married couples filing jointly earn $120,000 or less, or single filers earn $80,000 or less. Families may receive the $300 match three years in a row if they earn $80,000 or less, and single filers may receive the multi-year match if they earn $60,000 or less. Four out of five North Dakota families qualify for the match.
Learn more about this program at
collegesave4u.com, and contact Eide Chrysler with any questions.