Student Loans
Student Loans are an important economic development tool for our state. Student loans for apprenticeships, internships, during college and refinancing afterward are available. Preferable interest rates are given to North Dakota residents and out-of-state residents attending North Dakota schools.
Career Education & Alternative Learning (CEAL) Program
The Career Education & Alternative Learning (CEAL) Program provides funds for North Dakota residents and prospective North Dakota residents pursuing career education through alternative learning training programs and certifications. The school must be pre-approved by BND before students can apply for funding. Emerging Digital Academy and the University of Jamestown have received approval.
College SAVE 529 Plan
College SAVE, the state’s 529 plan, is administered by Bank of North Dakota. North Dakota residents benefit from tax-deferred earnings and tax-free withdrawals. The plan has over $350 million of in-state assets with more than 46,500 accounts.
Several match programs encourage saving starting with the New Baby Match of $200, the BND Match which is $300 and the Kindergarten Kickoff Match of $100.
College SAVE continues its appeal to families of all ages, whether they are children or grandchildren, and keeps administrative fees in check with an annual waiver for all North Dakota residents and continued emphasis on net asset fee reductions in both direct to consumer enrollments and those that occur through a large network of in-state financial advisors.
The program supports high achieving students with promotions like the Public Schools Foundation scholarships in elementary and middle schools, BEK Senior Spotlights of the Game across North Dakota, College Saving Month in May, the Summer Reading Champions Program in conjunction with the ND State Library and by being the official sponsor for the ND Department of Agriculture’s Pride of Dakota Showcases.
College SAVE raises awareness of the plan and its unique incentives by partnering with two state agencies. The ND Health Department allows for families to opt-in to receive important information on the New Baby Match grant and assists with verification. Beginning in 2025 College SAVE will launch its new online enrollment process which includes an easy-to-use READYSAVE529 app. The ND Tax Department is helping to remove paperwork and processing barriers by assisting with electronic BND Match income verification so even more families will get a boost into their College SAVE Plan.
Outreach Activities
Financial literacy: North Dakota made a bold move in 2024 and set the goal to be the most financially literate state by 2027. BND funds the website, SmartWithMyMoney.nd.gov and along with the State Treasurer, leads this statewide effort. Learn more about the effort.
BND offers Dual Credit support by covering the cost of up to two college courses per school year for high school sophomores, juniors and seniors who participate in the Free or Reduced Price Lunch program.
Hundreds of residents take advantage of GED support offered by BND. BND covers the cost of the first and final GED exams.
North Dakota Dollars for Scholars is administered by BND and in addition to statewide scholarships, supported local Dollars for Scholars chapters with education and scholarship funds.
