Addiction Counselor Internship Loan Program

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

The lifetime program applicant limit is $7,500. There is a minimum loan amount of $500.

Interest rate: The interest rate on outstanding loans must accrue at the Bank’s current Base Rate of 8.50%, 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.

Step 1: Receive acceptance letter to North Dakota Consortium. – School’s responsibility 

Step 2: Apply for an Addiction Counselor Internship Loan. A cosigner may be needed. – Borrower’s responsibility 

Step 3: Loan Documentation – BND sends email to borrower and cosigner (if applicable) to sign documents.  

Step 4: Loan Final Disclosure – Borrower receives disclosure with option to review it and reduce receipt period days. 

Step 5: Funds are disbursed directly to borrower. – BND’s responsibility 

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 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. 

The Addiction Counselor Internship Loan is a private educational loan through the state of North Dakota and is not part of the federal student loan program. This loan is not eligible for the Federal Student Loan Consolidation Program. However, borrowers may refinance this loan with other student loans through the DEAL One or DEAL Consolidation Loan Programs.

Repaying the student loan you cosigned

Repayment of the loan you cosigned begins 12 months from the starting date of the borrower’s internship program according to the award letter from the North Dakota Department of Human Services.

Although the borrower is not required to make payments while they are in their internship, it is to their advantage to do so. Any interest the borrower does not pay will be capitalized (added to their principal balance) when their loan enters repayment. Consider signing up for monthly or quarterly automatic payments while the borrower is in their internship program. Even if the payments are small, this can reduce the total amount that will need to be paid 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 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 you cosigned, contact us immediately. We can help review your current situation and discuss the options available.

Cosigner release

 To be released as the cosigner from a loan, each of the following requirements must be met:

• The borrower must submit the Addiction Counselor Internship Loan Request for Release of Cosigner form.
• The borrower must meet BND’s current credit and eligibility criteria in effect at the time the request is made. 
• The borrower must reside in the U.S.
• Twenty-four (24) consecutive, regular on-time payments must have been made to BND.
• A regular on-time payment is a payment received within 15 days of the due date while in repayment status. This does not include payments made during forbearance or deferment periods.
• The payment counter restarts if there is a period of reduced payments, deferment, forbearance or a payment is received more than 15 days past the due date.

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).