Difficulty making your federal student loan payment
If you are unable to make your payment, please contact BND. We don’t want you to risk damaging your credit report because you missed a payment. There are options available to assist you with repaying your loans and we’re happy to discuss them with you. Click on the link which best describes your situation. You can use the Interest Accrual Calculator to estimate the interest that may accrue while payments are postponed. Smart Money Tip
If you are enrolled at least half time, you may apply for an in-school deferment. Complete and submit this form to BND.
If you have a Parent PLUS Loan and the student is still enrolled in school, you may qualify for deferment. Complete and submit this form to BND.
If you are enrolled less than half-time, you must begin repaying your student loans as soon as your grace period is complete. Smart Money Tip
If you are in a graduate fellowship program, you may qualify for deferment. Complete and submit this form to BND.
If you are in a rehabilitation training program, you may qualify for deferment. Complete and submit this form to BND.
When experiencing a financial hardship, to be eligible for deferment you must meet one of the following criteria:
- receiving payment under a federal or state public assistance program
- have been granted an Economic Hardship on another federal loan program
- are working more than 30 hours per week and are still unable to make loan payments. (See Poverty Guidelines chart.)
- are in service with the Peace Corps.
Complete and submit this form to BND.
Thank you for your service.
Please complete the applicable form to postpone payments on your student loans. Smart Money Tip
If you are:
- An active duty service member, provide a copy of your current active duty orders or return the completed Military Deferment Request form to BND.
- An active duty National Guard member for more than 30 days, provide a copy of your current active duty orders or return the completed Mandatory Forbearance Request form to BND.
- Performing the type of service that qualifies you for a partial repayment of your loan(s) under the Department of Defense Student Loan Repayment Program administered under 10 U.S.C. 2171. (Complete Forbearance)
Military personnel may be eligible for additional benefits. Click here for more information. Some BND student loans are not eligible for all benefits listed. If you have any questions, contact us or call 701.328.5660.
Forbearance allows you to temporarily reduce your student loan payments or temporarily postpone making payments.
There are two types of forbearance: mandatory or discretionary
Mandatory forbearance may be requested if:
- You are enrolled in a medical or dental internship or residency program, complete and submit this form to BND.
- The total monthly payment amount owed on all your eligible student loans is equal to or greater than 20% of your total monthly gross income, complete and submit this form to BND.
- You are serving in a national service position for which you received a national service award, complete and submit this form to BND.
- You are applying for teacher loan forgiveness, complete and submit this form to BND.
- You qualify for partial repayment under the U.S. Department of Defense Student Loan Repayment Program, complete and submit this form to BND.
- You are a member of the National Guard and have been activated by a governor, but are not eligible for military deferment, complete and submit this form to BND.
Discretionary forbearance may be requested if:
- You are unable to make your regular monthly payment, but could afford a reduced payment, you may request a low-payment forbearance. A low-payment forbearance temporarily reduces your monthly payment. Payments go toward the accruing interest with a lesser amount going towards the principal balance. You may request this option by contacting BND.
- You are past due or need to postpone your monthly payment for short time, a no-payment forbearance request may be granted over the phone or by submitting this form.
If you have loans prior to 7/1/1993, there may be other deferment options available. If none of these situations apply, contact us for more information.