Official Newspaper of Eddy County since 1883
Official Newspaper of Eddy County since 1883
The Eddy-New Rockford Library is partnering with Bank of North Dakota’s College SAVE program to provide one more incentive to participants in its summer reading program – money!
College SAVE is the state’s 529 plan to help residents save for college. Every young reader who signs up for the Eddy-New Rockford Library Summer Reading Progam will have the opportunity to register for one $529 contribution to a new or existing College SAVE account. At the end of the summer, every reader who completes the program’s parameters will receive a $25 contribution to a College SAVE account and a chance to receive one of 10 $529 contributions to a College SAVE account.
Bank of North Dakota and the North Dakota State Library have partnered to offer the College SAVE Reading Champions Campaign statewide. More than 40 libraries with nearly 15,000 readers are expected to participate and help raise awareness that College SAVE accounts grow state and federal tax free when used for qualified higher education expenses. Contributions are also tax deductible from North Dakota state income.
“We think this is a valuable opportunity for our summer reading participants and encourage even those who haven’t participated before to consider joining in,” states Librarian Susie Sharp. “College SAVE offers several match programs that some of our residents may not be aware of that can also increase their college savings.”
College SAVE also offers the New Baby Match, a $200 match when an account is opened within a child’s first year of life. BND provides a $300 match for up to three years depending on family income. Four of five North Dakota families qualify for at least one year.
“Bank of North Dakota is always seeking creative ways to reach families who are interested in saving for college,” states James Barnhardt, College SAVE Plan director. “The research is clear that a child is more likely to attend college when a family starts saving and the match programs offered by Bank of North Dakota have jumpstarted nearly 11,000 accounts.”
Watch next week’s paper for more information on the Summer Reading Program Kick Off at the Eddy-New Rockford Library. Visit collegesave4u.com to learn more about College SAVE.
