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This loan provides assistance for qualified individuals who are participating in an internship at a licensed substance abuse treatment facility in North Dakota to obtain a license as an addiction counselor.

Borrower: 

  • You must be at least 16 years of age. 
  • You must be at U.S. citizen. 
  • You must not be delinquent or in default on a student loan.
  • You must be participating in an internship at an eligible substance abuse treatment facility in North Dakota to obtain a license as an addiction counselor. 
  • 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. 
  • Internship means work experience in a licensed addiction treatment facility under the supervision of a clinical supervisor registered by the board.
  • The individual must begin the internship after June 30, 2015.
  • The internship may be paid or unpaid.
  • The treatment facility must be located in North Dakota.

There is a minimum loan amount of $500; the lifetime program limit for an applicant is $7,500.

Interest rate: 

The interest rate on outstanding loans must accrue at the Bank’s current Base Rate of 7.75%, but may not exceed an Annual Percentage Rate (APR) of 6.00%. There is no difference between the interest rate and the APR because there are no fees.

Fees:

There are no fees for this loan.

To begin the Addiction Counselor Internship Loan application process, you must first receive an acceptance letter to North Dakota Consortium.

You can complete the Addiction Counselor Internship Loan Borrower Application (PDF) and submit it to BND by mail, fax or email.

Why would I need a cosigner?

The Addiction Counselor Internship Loan is a credit-based loan. You can choose to apply with or without a cosigner, but if you do not meet BND’s credit criteria, you can re-apply with a cosigner. Click here to learn about cosigning student loans.

How does a cosigner apply?

You can complete the Addiction Counselor Internship Loan Cosigner Application (PDF) and submit it to BND by mail, fax or email.

You will be asked to sign the loan documentation including the Loan Approval Disclosure and Promissory Note. If you have a cosigner, they will receive a request to sign the documents.

These documents are time sensitive and need to be signed and returned before the last date of acceptance listed on the documents. If you have questions call BND at (833) 397-0311; otherwise, return the documents right away. Your loan is on hold until BND receives both signed documents.

The Loan Final Disclosure is the last step, and your final opportunity to cancel your application before it becomes a loan. If you want the loan, no further action is required on your part; however, you do have the option to review your final disclosure and waive two of the three business days of your final disclosure receipt period. After the final disclosure receipt period lapses, your loan will begin the three business day waiting period for your legal right of refusal of the loan. Your loan will automatically be distributed after the required waiting period has passed.

Repayment will begin 12 months from the starting date of your internship program according to the award letter from the North Dakota Department of Human Services.

Although you are not required to make payments while you are in your internship, it is to your advantage to do so. Any interest you do not pay will be capitalized (added to your principal balance) when your loan enters repayment. Consider signing up for monthly or quarterly automatic payments while you are in your internship program. Even if the payments are small, this can reduce the total amount you will need to pay over the life of the loan. 

  • Loans are placed on a 10-year repayment plan.
  • Loans that become 15 days delinquent will be assessed a late fee not to exceed 6% of the unpaid portion of the installment or a maximum of $15.00. 
  • All loans are reported to consumer reporting agencies monthly. Loans that are 30 days delinquent or greater will be reported as late.
  • Automatic payments can be set up through the BND online portal. This can be updated by selecting Manage Recurring Payments under the Useful Links to the right of each loan. Alternatively, you can complete the Authorization for Automatic Payments (PDF) form or call our office to have one of our representatives assist you. By signing up for automatic payments, you can:
    • Decrease the interest rate by 0.25% 
    • Choose a payment due date from the 1st through the 28th of the month  
    • Avoid late fees
    • Build a positive credit history

If you are having difficulty repaying the loan, contact us immediately. We can help review your current situation and discuss the options available. 

Borrower Application (PDF)
Cosigner Application (PDF)
ACIL Variable Rate Loan Application Disclosure (PDF)

To apply as a borrower or cosigner, complete the appropriate application in the “Forms” section.

If you have questions, call (701) 328-5660 or (833) 397-0311 or start a live chat (see icon in the lower right corner to connect).

Click here for information about cosigning a student loan.

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studentloans@nd.gov

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