A well-educated workforce is an essential component of a vibrant economy. Bank of North Dakota provides opportunities that help North Dakotans fund and make good decisions about postsecondary education from cradle to career.
Started in 2001 as a partnership with the Industrial Commission, state legislators and financial service providers, Bank of North Dakota administers College SAVE, the state’s 529 plan. Incentives to encourage saving for college early include a $200 New Baby Match when an account is opened by the first birthday of a North Dakota-newborn. The BND Match provides an additional $300 based on income which four out of five families meet. Numerous scholarship opportunities of up to $529 for account owners are provided through partnerships throughout the year.
BND publishes online and print versions of helpful handouts for middle and high school students to help them research their education options. Materials include a college handbook, regional college cost sheet and a website to encourage Native American youth to extend their education.
Financial literacy and career discovery presentations are coordinated by the Bank. BND also funds dual credit assistance for low income students and GED examinations.
The Bank administers North Dakota Dollars for Scholars, a statewide scholarship program for residents who attend a North Dakota high school. It also supports College Application Month, a time when a majority of North Dakota high school seniors apply to college. BND covers one $35 application fee to a North Dakota college for every senior.
If federal student loans, scholarships, grants and savings don’t meet a person’s funding needs for college, the Bank’s student loan program is available. After college North Dakota residents can refinance all student loans, including federal student loans, with Bank of North Dakota.