North Dakota University System

North Dakota University System

The State Board of Higher Education is the policy-setting body for the North Dakota University System and its financial aid.

All North Dakota aid programs require the FAFSA so check the state FAFSA deadline .

Although some individual schools may use the Direct Federal Student Loan Program, most state schools use the Federal Family Education Loan Program (FFELP). North Dakota's federal guarantor for this program is the Bank of North Dakota (BND)- the only state-owned bank in the country.

No special discounts or waiving of fees are offered on federal school loans.

Through the Bank of North Dakota, the state does offer alternative student loans:

The Dakota Education Alternative Loan Program

There are 3 different loans within this program:

1. Dakota Education Alternative Loan
• fixed rate of 7.3% or variable rate of LIBOR + 1.5% (ND resident) or LIBOR + 2.5 (out of state resident)
• minimum of $500- maximum of cost of attendence (coa) minus other financial aid
• repayment is 10 years with a 6 month grace period for students enrolled for half time or greater
• good credit or a good credit cosigner- after 24 on-time payments- cosigner release
2. Medical Dakota Education Alternative Loan
• fixed rate of 7.3% orvariable rate of LIBOR + 1.5% (ND resident) or LIBOR + 2.5 (out of state resident)
• minimum of $500- maximum of cost of attendence (coa) minus other financial aid
• repayment is 15 years with a 6 month grace period
• cosigner only required for first and second year students- third and fourth year do not need a cosigner
3. Dakota Education Alternative Loan (DEAL) Consolidation Loan
• interest rate is fixed at 7.56% or a variable rate may be chosen
• minimum of two loans may be consolidated- all loans consolidated must be education loans
• standard term for repayment is 20 years; can be 10-25 years
• a cosigner may be required- loan start date can be delayed until grace period ends

Students who have at least one federal student loan through the Bank of North Dakota are eligible to have their rewards from the [COMPENSATED AFFILIATE LINK] UPromise program go directly towards their principal loan balance.

North Dakota students are encouraged to apply for free grants before taking out loans. Some North Dakota grants are:

• Tuition Waivers at NDUS schools- Available for: senior citizens, peace officers, fire fighters, state employees, military dependents of officers killed or MIA, tribal members and economically disadvantaged persons
• North Dakota Scholars Program- Full tuition scholarship at NDUS schools (or equivalent amount for private schools) for high school juniors who score in the upper five percentile of all North Dakota ACT test takers


[COMPENSATED AFFILIATE LINK] Prepare For The ACT Test


• ND State Student Incentive Grant Program- need-based grants of $600-$1,000 per year
• North Dakota Indian Scholarship Program- for American Indian students in amounts ranging from $500-$2,000 per year

Student Loan Forgiveness Programs

1. The Technology Occupations Student Loan Forgiveness Program
• for graduates in a technology related field who have been employed in a technology occupation in North Dakota for one year
• amount forgiven- $1,000 per year up to 3 years
• for Federal and DEAL loans
2. Teacher Shortage Loan Forgiveness Program
• for teachers who have been employed for one year in North Dakota public schools in an area or grade identified as a teacher shortage area
• amount forgiven- $1,000 per year up to 3 years
• for Federal and DEAL loans