Loans for Undergraduate Students
Start here to find out how families can get help financing their student’s education through alternative and federal loans.
BND offers an alternative loan called the Dakota Education Alternative Loan (DEAL) with local service you can count on.
- This loan is available if the cost of education exceeds the amount a student or parent is able to borrow through federal student aid programs.
- You’ll pay zero fees if you’re a North Dakota resident, or are attending a North Dakota school.
- You choose a fixed or variable interest rate.
- If you’re a high school student participating in a dual credit program, you may qualify.
- Alternative loan consolidation is available.
The following federal loans are made through the William D. Ford Direct Loan Program, which is administered by the U.S. Department of Education.
The federal government, through the U.S. Department of Education, is your lender.
- You must demonstrate financial need to be eligible, as determined by federal regulations.
- The federal government pays the interest on your behalf while you are in school at least half-time, in a six-month grace period following school, or during an authorized period of deferment.
- This loan is not based on your financial need.
- You are responsible for paying the interest during the entire life of the loan. The federal government does not pay any interest on your behalf.
