Bank of North Dakota Offering Student Loan Relief Options
BISMARCK, N.D.–The Bank of North Dakota announced its student loan relief plans to assist students impacted by COVID-19 on Tuesday.
Effective Immediately, borrowers may request to defer payments for six months.
Additionally, interest rates for variable borrowers will decrease April 1 and Bank of North Dakota will reduce payments to reflect the new interest rate. Borrowers with fixed interest rates will also receive a decrease in interest rates by at least one percent.
Bank of North Dakota President and CEO Eric Hardmeyer said, “We understand this is an extremely challenging time for our borrowers and want to assist them. BND is committed to providing assistance that has a meaningful impact on the daily lives of our borrowers.”
Borrowers wishing to request payment deferments can visit https://bnd.nd.gov/covid19/ or call 800-472-2166.