The Bank of North Dakota is offering relief to recent college graduates. Through an online application, students with college loan repayments through the bank of North Dakota can request payment deferrals.
Payments can be postponed for the next six months, but interest will continue to accrue over that time.
Meanwhile, the interest rate for fixed rate borrowers will drop by 1% for the remainder of the year. However, those rates need to be changed manually. So it could take weeks before those raids become affective. Bowers with variable rates will see their rates drop on Arpil 1.
“We understand this is an extremely challenging time for our borrowers and want to assist them,” states Eric Hardmeyer, BND president/CEO. “BND is committed to providing assistance that has a meaningful impact on the daily lives of our borrowers.”
Applications can be found at BND.ND.GOV/COVID or by calling 800-472-2166 extension 328-5660.