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You have several options to consider when repaying your student loan. View the details of repayment plans below. If you still need help deciding, contact BND for more information regarding student loan repayment.

This plan is automatically established for you unless you request another plan.

Fixed interest rate:

  • Monthly minimum payment amount stays the same throughout the life of the loan unless you choose to pay more.
  • Maximum time allowed to repay a loan is 10 years.

Variable interest rate:

  • Monthly minimum payment amount varies depending on the interest rate.
  • Maximum time allowed to repay a loan is 10 years.

Sample loan payment plan (PDF)

If you have a total student loan balance of $30,000 or more, your payment term may be extended up to 25 years.

Fixed interest rate:

  • Monthly minimum payment amount stays the same throughout the life of the loan unless you choose to pay more.
  • Maximum time allowed to repay loan is 25 years.

Variable interest rate:

  • Monthly minimum payment amount varies depending on the interest rate.
  • Maximum time allowed to repay loan is 25 years.

Sample loan payment plan (PDF)

How to apply? Contact BND to request the extended payment plan.

There may different options for consolidating your student loans depending on whether you have federal or private student loans and your state of residence.

Bank of North Dakota’s DEAL One Loan allows North Dakota residents to refinance all of their student loans, including federal, into one loan. You or a creditworthy cosigner must meet specific credit criteria.

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(833) 397-0311

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studentloans@nd.gov

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Additional Resources

To learn more about repaying student loans, visit SmartWithMyMoney.nd.gov and complete a course on student loan repayment.