Five North Dakotans Receive $529 to Save for College

BISMARCK–September 22, 2010–September is recognized as College Savings Month, where families are encouraged to plan ahead for the cost of college attendance. By participating in one of several College SAVE events this summer, five young North Dakotans will jumpstart their college savings with a $529 award into a College SAVE account. College SAVE is North Dakota’s state-sponsored, tax-advantaged 529 college savings plan administered by Bank of North Dakota (BND).

BND sponsored three “529 Friday – College SAVE Day at the Zoo” events to kick off summer. Each event featured a random drawing for a $529 award, along with other festivities to celebrate college planning.

• Roosevelt Zoo in Minot - $529 recipient is Kylie Topolski of Donnybrook, ND
• Dakota Zoo in Bismarck - $529 recipient is Aiden Johnson of Bismarck
• Red River Zoo in Fargo - $529 recipient is Andrew Eslinger of West Fargo

College SAVE also held a statewide drawing comprised of participants in the “529 Friday” events plus other North Dakota residents who responded to a general mailing promoting the drawing. The $529 recipient in that drawing is Olivia Aasen of Hillsboro, ND.

The final $529 award recipient was selected from hundreds of entries from the North Dakota State Fair, where College SAVE has a presence with a free booth that features a paintable mural for family fun. This year’s recipient is Tyann Miller of Bismarck.

College Savings Month is a time for families all over North Dakota to consider the value of higher education. Students who have school savings are almost four times more likely to attend a four-year college than youth with no account.*

“Saving for college is an important step in helping your child reach his or her educational dreams,” said Eric Hardmeyer, Bank of North Dakota President. “College SAVE makes taking that step an easy decision with low fees, matching grants, in-state tax deductions and more. These benefits enable families all over North Dakota to put money toward their children’s future education.”

*Center for Social Development study: The Role of Savings and Wealth in Reducing “Wilt” between Expectations and College Attendance. William Elliott III and Sondra Beverly, 2010.

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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