Frequently Asked Questions

You have all sorts of questions. We have all the right answers.

Bank of North Dakota (BND) is a student loan billing service provider. We are hired by colleges, universities, and financial institutions across the country to assist with administering and billing of federal and private student loans including:

  • NDSL/Federal Perkins
  • Nursing Student Loans (NSL)
  • Health Profession Student Loans (HPSL)
  • Primary Care Loans (PCL)
  • Loans to Disadvantaged Students (LDS)
  • Nurse Faculty Loans (NFLP)
  • State-mandated loan program
  • Private and institutional loan programs

We are here to help you understand the terms under which you took your loan(s) and provide solutions for making payments and preventing default.

No. BND is a student loan servicer and does not own your loan.

BND does not offer loan consolidations and cannot consolidate your loans because BND is not a lending institution. Please continue reading for more information on loan consolidation.

Loan consolidation is offered by the Department of Education (federal loans only) and by private financial institutions. Consolidation may be an option if you have one or multiple loans with one or multiple lenders, including federal or private student loan types. Consolidation can offer certain advantages, such as a single loan or a reduced number of totals loans. It can be used as an opportunity to refinance your student loan debt load to reduce monthly payment amounts and/or potentially reduce your interest rate(s). As everyone’s financial situation is different, consumers need to explore companies that offer consolidation services and discover through those companies what circumstances will qualify loans for consolidation.

When considering the option to consolidate a Federal Perkins Loan, be aware that doing so will eliminate the current available benefits associated with a Perkins Loan, such as the fixed 5% interest rate, interest free periods during deferment, and the ability to qualify for cancellation, deferment or forbearance benefit programs. Also, an extended repayment period due to a reduced payment amount means more interest may be paid over the life of the loan.

For information about federal student loan consolidation, go to: https://studentaid.ed.gov/sa/repay-loans/consolidation.

Federal loans are reported to a credit bureau per the loan program regulations. If you make payments and/or file for benefits on time, your credit report will reflect the on-time activities. Late payments and benefit forms will also report to the credit bureaus. If you believe there is something inaccurate on your credit bureau report in relation to an account that is serviced by BND, please contact our office immediately at 833-397-0311 to inform us of the potential error.

You may contact us

By telephone at: 833-397-0311
By email at: bndser@nd.gov
By mail at:
1200 Memorial Highway
PO Box 5509
Bismarck, ND 58506-5509


You may also login to your portal account by clicking the login button located at the top right hand corner of this screen.

A non-federal loan from a bank, credit union, or other financial institution.

It depends on the terms of the loan. Private student loans can have variable interest rates.

Private Student Loans are not subsidized. The borrower is responsible for interest on these types of loans.

Private Student Loans cannot be consolidated into a Direct Consolidation Loan.

Unlike Federal Student Loans, Private Student Loans are not funded or processed by the federal government.

Student borrowers may apply for Private Student Loans. Parents, relatives, and other individuals may co-sign for Private Student Loans as well.

Private Student Loans do not have many of the repayment and deferment options that are available with Federal Student Loans. Please us at 833-397-0311 to discuss any repayment options that may be available for your Private Student Loan.

Private Student Loans have a variety of interest rates, payment structures, and lengths of time to repay.

Please login to your portal account. If BND has a copy of these records, you may find them under Your Loan- View Documents. If you do not see the specific record you require, please contact us at 833-397-0311 for further assistance.

Depending on the type(s) of loan(s) you have, the first payment may be due while you are enrolled (in school), at the end of your enrollment, or after a grace period. The due date of your first payment is determined by your promissory note. Please contact us for specific information about your account(s).

BND offers the following payment methods:

Online by creating one of the following:

  • A one-time electronic (ACH) payment from a bank account, or
  • Recurring electronic (ACH) payments from a bank account

By Check: If you would like to send a check, make the check payable to the lending school or the financial institution and mail it to the following address:

University Accounting Service
PO Box 5879
Carol Stream, IL 60197-5879

Be sure to include your account number on your check and include the remittance section from your billing statement.

By Phone: You also may call BND at 833-397-0311 to make a payment by phone.

Contact us immediately if you will be unable to make your loan payment(s) by the due date. You may send an email to us through this site. Or, call us at 833-397-0311.

Depending on the type of loan you have, you may be eligible for a benefit such as deferment, forbearance or cancellation.

It’s possible the letter or billing statement was sent before the payment was received. To verify the account status and confirm receipt of the payment, you may:

  • Create a login and view information about your account.
  • Call our Interactive Voice Response system at 833-397-0311, available 24/7.
  • Call us at 833-397-0311 to speak to a Representative. Our hours are Monday-Friday from 7am-5pm (Central).

If you move, be sure to update your address with us as well as with the Post Office. You can log into your account (or create a login) on this site and notify us of the change. You also may call us at 833-397-0311.

It is your responsibility to make loan payments, even if you don’t receive a statement. You can log into your account (or create a login) on this site to view billing statements and account information.

The consolidation process may take some time. Your consolidation lender must process your application, verify the loans being consolidated, and send payments to the original lenders. Or, your loan may not have been included in the consolidation loan. Not all student loans are eligible for consolidation. If you have questions about the progress of your consolidation, please contact your consolidation lender.

Interest may capitalize (i.e. be added to the principal balance of your loan) at designated times specified in your loan agreement.

For example, interest may capitalize after a period of forbearance during which interest is accruing but payments are not required.

Yes. When a consumer submits payment(s) for multiple accounts, all of which are serviced by BND, the consumer may decide to have certain portions of the payment applied to specific loans. To allocate payment(s), you may make a payment on this site and use the "Pay Toward Loan" column to designate the specific portion of the payment that you would like applied to each account. Or, you may call us at 833-397-0311 for allocation requests or questions.

For your convenience, several options are available to you:

  1. You can login to your portal account which will display each loan for which you are a co-signer or borrower. You will have an option to apply payments among all your loans in single transactions or you can simply target payments to specific loan(s).
  2. You can call BND and speak to a representative and they can apply the payment(s) to the loan(s) per your instructions.
  3. You can send us the payment coupon included with your statement with instructions on targeting payments to specific loan(s).

Under the curtailment method, if you make any payment more than the monthly amount due (“overpayment”), amounts which exceed the monthly amount due will be applied to the most recent open statement period and will be allocated to reduce the outstanding principal balance, if consistent with applicable regulations or loan agreements. The next statement will bill the normal minimum amount due on the next scheduled due date.

Under the Pay Ahead method, if you make any payment more than the monthly amount due (“overpayment”), amounts which exceed the monthly amount due will be categorized in a “Pay Ahead” status. For the next statement, the system will automatically generate a “Pay Ahead Adjustment” that will be applied to the overpayment amount towards the principal portion of the monthly amount due, with a ceiling of the normally required minimum payment amount or the amount in the Pay Ahead category, whichever is less. Thus, the statement a borrower receives after the first overpayment under the Pay Ahead method may indicate a lower minimum payment due for that month in some circumstances. If there is any remaining amount in the Pay Ahead category after the first “Pay Ahead Adjustment,” it will carry forward to the next statement cycle(s) and repeat the process. Overpayment amounts under the “Pay Ahead” method apply to the principal on applicable loan(s) from the date of the original overpayment, even if a “Pay Ahead” adjustment from a single overpayment occurs over multiple statements.

Yes. There are two options available: Curtailment or Pay Ahead. You can select how you would like your overpayment to be applied:

  1. You can login to your portal account and under Account Settings select how you would like to apply any overpayments.
  2. While making a payment to your loan(s) through the portal account, you can select how to apply overpayment.
  3. You can call BND at 833-397-0311 and speak to a representative to discuss your overpayment preferences.

If you instruct us on applying overpayments a certain way, if consistent with applicable law and loan agreement(s), we will apply any future overpayments on your account in the same way, unless you instruct us otherwise.

If we receive no instructions on how to apply any overpayments or if instructions are not consistent with applicable law or loan agreement(s), the default method (Curtailment or Pay Ahead) we use to apply overpayments depends on the terms of your loan. If you have any questions about overpayments, please contact us.

Your preference will be saved and used on any future overpayments unless you decide to change your preference through the channels listed above.

Many loan programs allow for deferment or forbearance while you attend school at least half time. If your loan type permits this type of benefit, you may need to apply for the benefit by completing a benefit request form. Go to the Downloadable Forms section of this site. Or you can request a benefit form by calling BND at 833-397-0311 or by mailing a written request to 1200 Memorial Highway, PO Box 5509, Bismarck, ND 58506-5509.

See the Downloadable Forms to help determine your eligibility for benefits.

Seriously delinquent Federal Perkins Loans may be rehabilitated. After nine consecutive monthly payments your account will be considered current and be reported to the credit bureaus and to the National Student Loan Database (NSLDS) as such. Your lending institution will determine the monthly payment amount for the applicable benefit. You may regain eligibility for Title IV financial aid by making six consecutive on-time monthly payments.

BND personnel CANNOT provide specific account information to anyone, including the consumer’s family – e.g. spouse, parent, or grandparent – unless the consumer signs a release indicating to whom BND can provide information.

To find a release or authorization form, look in the Downloadable Forms section of this site. Note that authorization must be granted to each loan individually.