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Published December 13, 2012, 08:25 PM

Bank of North Dakota is providing lower interest rates

Fargo, ND (WDAY TV) -- Student loan delinquency is at an all-time high as the debt becomes more difficult to pay back. But changes at Bank of North Dakota are providing North Dakotans a chance for lower interest rates.

By: WDAY Staff Reports, WDAY

Fargo, ND (WDAY TV) -- Student loan delinquency is at an all-time high as the debt becomes more difficult to pay back. But changes at Bank of North Dakota are providing North Dakotans a chance for lower interest rates.

Today, the Bank announced enhancements to its Deal Consolidation program.

All North Dakotans can now refinance alternative loans through the Bank of North Dakota, even if the loans are from other banks. Parents with a Federal Plus Loan can now also refinance and bring down their interest rates.

Tom Ternes, new loan supervisor, says, "We're seeing big savings and that's kind of what the bank's trying to do is invest in North Dakotans to save them money. Especially when you're talking about student loans where there's a big concern on how people are able to fund their education."

There will be no fees charged for North Dakota borrowers on any consolidation program. The changes begin January first.

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