An official website of the State of North Dakota
The DEAL Student Loan can help you cover the cost of attending college if federal Direct student loans, grants, scholarships and savings don’t meet funding needs. It can be used for undergraduate and graduate classes. If you are a North Dakota resident, it may be used for approved in-state and out-of-state schools. If you are an out-of-state resident attending a North Dakota school, you do not pay fees and may choose a fixed or variable interest rate.
Borrower:
- You must be a resident of North Dakota attending an eligible in-state or out-of-state school or an out-of-state resident attending an eligible North Dakota school.
- You must be at least 16 years of age.
- You must be a U.S. citizen.
- You must not be delinquent or in default on a student loan.
- You must be attending an eligible school.
- The school must certify that you are meeting satisfactory academic progress and certify your enrollment eligibility and status.
- You must complete the Free Application for Federal Student Aid (FAFSA) process if you will be attending school at least half-time.
- You are a North Dakota high school student participating in a dual credit program.
- Your credit will be evaluated to determine if the application can be approved. A creditworthy cosigner is required if you do not meet BND’s credit criteria.
Cosigner:
- You must be at least 18 years of age.
- You must be a U.S. citizen.
- You must not be delinquent or in default on a student loan.
- Your credit will be evaluated to determine if the application can be approved.
Generally, there is a $60,000 maximum loan limit for undergraduate students and a $60,000 maximum loan limit for graduate students. The minimum student loan amount is $500. You may not borrow more than your school certifies you will need. If you apply for a loan that will exceed these limits, you will be asked for additional information so we can determine if we can make an exception.
| DEAL Student Loan These interest rates are effective April 1 through June 30, 2025. |
||||
| Loan Fee | Fixed Interest Rate | Fixed APR* | Variable Interest Rate** | Variable APR* |
|---|---|---|---|---|
| 0% | 6.59% | 6.20% | 5.75% | 5.45% |
| DEAL Student Loan These interest rates are effective April 1 through June 30, 2025. |
|
| Loan Fee | 0% |
|---|---|
| Fixed Interest Rate | 6.59% |
| Fixed APR* | 6.20% |
| Variable Interest Rate** | 5.75% |
| Variable APR* | 5.45% |
You do not pay any fees for a DEAL Student Loan. BND pays the fee for you.
Students
- Requested loan amount
- School you are attending
- Social Security Number
- Two personal references (must have different addresses and cannot be your cosigner, if applicable)
Cosigners
- Cosigner PIN (emailed to the cosigner after the borrower completes page 5 of the application)
- Student’s last name and date of birth
- Cosigner’s Social Security Number
- Two personal references for cosigner (cannot be the same references as the borrower listed; cannot be the borrower)
A fixed interest rate is set on a specific date and remains the same until your loan is paid in full. A variable interest rate can change based on changes to an “index.” See BND’s fixed and variable interest rate options here.
The interest rate is the rate of interest you will pay on the loan for borrowing the funds. The Annual Percentage Rate (APR) reflects not only the interest rate but also the fees or other charges that you have to pay to get the loan. Looking at the APR is the most accurate way to compare different loan offers.
Log in to your online account and view your application status. When your loan is approved, you will also receive an email from BND letting you know the next steps you need to take.
If you are still unsure about the status of your loan, we would be happy to assist you. You can email us, call us at (833) 397-0311 or chat with us using the link in the lower right corner.
The process length varies. We recommend you apply at least four to six weeks prior to the tuition deadline, although the loan may be processed quicker than that. Here are some items you can do to help speed up the process:
- Upload and return documents promptly when requested by BND.
- Stay up to date on your application process using your portal account and take the associated steps when contacted by BND to ensure your loan application is processed as quickly as possible.
- Log in to your account when your loan final disclosure is available. View it and waive two of the three business days of your final disclosure receipt period.
Credit scores are numbers used by lenders to help them determine how likely it is that you will repay your debt. BND uses TransUnion scores as one of the factors in our credit criteria for obtaining a DEAL Loan. If you do not meet BND’s credit criteria, you will need to find a creditworthy cosigner.
The range of a credit score is 300 to 850. Most people’s credit scores fall between 600 and 750.
Loan funds are sent directly to your school on the date(s) selected during the certification process. In the case that the selected date has already passed by the time your application reaches disbursement stage, the funds will be sent to your school as soon as the required waiting period has passed. For exact disbursement dates, please refer to your online account.
Click here for information about cosigning a student loan.
Call Us
(833) 397-0311
Email Us
studentloans@nd.gov
Start A Live Chat
When active, connect by using the icon in the lower right corner to connect.
How to apply
Apply online by clicking “Apply Now” below. If you have any questions, call (701) 328-5660 or (833) 397-0311, or start a live chat using the link in the lower right corner.