In early 2018, Bank of North Dakota’s Federal Student Loans will be sold to North Texas Higher Education Authority (NTHEA) and will be serviced by Higher Education Servicing Corporation (HESC).

This sale will not affect your interest rate, the amount of your loan payment or your due date.

Bank of North Dakota (BND) has two types of student loans: Federal Student Loans and DEAL Student Loans. BND will continue to own, offer and service our state-sponsored DEAL Student Loans.

Determine which student loan you have

Download

I have a
DEAL Student Loan

This sale will NOT impact you. There are no changes to this program.

I have a
Federal Student Loan

This sale will impact you. Your loan will be sold to NTHEA and will be serviced by HESC after the sale is complete.

I have both student loans

This sale will impact you. Your Federal Student Loan(s) will be sold to NTHEA and will be serviced by HESC after the sale is complete. Your DEAL Student Loan(s) will continue to be owned and serviced by BND.

What you need to know about your payments 
  • Automatic payments with BND


    Your automatic payments will continue uninterrupted. After the sale, HESC will work with you to update your paperwork. You will not need to update your paperwork with BND. You will continue to receive a 0.25% interest rate reduction while you are on automatic payments.

  • Automatic payments set up with your bank


    You will need to contact your bank to add HESC as a payee and update your existing BND payment information. This should be completed after you are notified that your loan has been sold and you receive your new billing statement in early 2018.

  • Mail your payments


    You should continue to mail your payments to BND until you are notified that your loan has been sold. After the sale is completed in early 2018, you will receive your new billing statement with payment instructions.

  • Phone payments


    You will contact HESC to make payments on your Federal Student Loan after the sale is completed in early 2018. We will provide details to you in a future mailing and it is listed below

  • If you have both Federal and DEAL Student Loans


    BND and HESC will provide separate billing statements to you after the sale is completed in early 2018. To discuss this in advance, please contact us so we can answer your questions.

  • Reduced and deferred payments


    All payment plans and arrangements on your Federal Student Loan(s) will transfer from BND to HESC.

  • Tax documents


    BND will send your 2017 1098-E tax document by mail or electronic correspondence.
Steps you can take to help make the transition easier  
1.Make sure your mailing and email addresses and phone numbers are up to date with BND.
2.Continue making your monthly payment as scheduled with BND.
3.Contact BND immediately if you have a past due balance. BND has options specifically designed to help you resolve your past due balance prior to the loan sale. You can call 800.472.2166 ext. 328.5660 or email bndser@nd.gov.
4.Watch for communication from BND and Higher Education Servicing Corporation (HESC).

Higher Education Servicing Corporation Inc. (HESC) was founded in 1978 as a private non-profit organization to service and administer federal student loans for NTHEA. Today, HESC services both federal and private education loans and supports an array of college access and success programs that help students pursue and achieve a higher education.

Mailing Address
Higher Education Servicing Corporation
4381 W Green Oaks Blvd, Suite 200
Arlington, TX 76016

Payment Address
Higher Education Servicing Corporation
PO Box 678511
Dallas, TX 75267-8511

Toll-Free Phone: 800.366.4372
M-F, 8 a.m. to 7 p.m. CT
Fax: 817.792.7878
Email: service@hescloans.com