State Plan

North Dakota 529 Plan

North Dakota offers one 529 college savings plan, a direct plan called College SAVE.

College SAVE

College SAVE is a traditional 529 plan that allows you to invest money today and reap tax benefits when you withdraw it to pay for qualified education expenses.

Type: Direct – this 529 plan can be purchased directly through the state.

Fund Family: The Vanguard Group®

Minimums: To get started you can deposit $25, and minimum subsequent contributions are also $25.

Maximum Contributions: The maximum contribution limit is $269,000. This amount can change annually. Of course, your total amount in the plan can be higher as your investments group. 529 plans typically increase the contribution limit over time, so you may be able to contribute more.

Tax Benefits: Good news for North Dakota residents – by investing in your state’s 529 plan, you can deduct up to $5,000 on your state income taxes for single filer and $10,000 for married filers. Also, effective January 1, 2009, North Dakota residents can get matching grants of up to $300 for three years. Note that this matching program is extremely limited. You also get federal income tax benefits as you do not pay income tax on your earnings. Out-of-state participants still get the federal tax benefits.

Other Benefits: Through your College SAVE plan, you have the option to be a part of a reward program set up by Upromise®. By making purchases with your card, the reward program offers a percentage of purchases that convert into rewards points, and ultimately convert into account contributions. You can also sign up for the Bank of North Dakota’s matching grant program, offering up to $500 per year based on income limitations.

Residency: College SAVE is open to all United States residents, not just those in North Dakota.

You can learn more about ’s 529 plan at the official website.