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Federal Loan Consolidation Application Process
Federal Consolidation Loan applications must be postmarked by May 31, 2008 to be
accepted by Bank of North Dakota due to program changes effective June 1, 2008.
Neither BND nor Student Loans of North Dakota-Guarantor (SLND-Guarantor)
will assess charges to the borrower for the guarantee or origination of
a Federal Consolidation Loan.
Federal regulation does permit the assessment of an administrative fee to lenders to cover the costs of increased or extended liability for Federal Consolidation Loans.
There are no fees, pre-payment penalties, or service charges for the consolidation
process.
The following Federal Consolidation Loan forms must be completed and provided
to your lender for processing.
These forms require Adobe Acrobat Reader to view and print. If you do not have Adobe Acrobat Reader installed, please visit the PDF Help Page. If you have Acrobat Reader installed
and experience problems in downloading the form(s), we recommend that you download the most recent version of Acrobat Reader.
If you have student loans with multiple lenders, you may choose to consolidate
through any lender.
Federal Consolidation Loan Application and Promissory Note (expires 01/31/2010)
Federal Consolidation Loan Verification Certificate (completed by lenders only)
This form is used to verify the eligibility and the payoff amount of the
borrower's outstanding education loan(s) selected for consolidation.
(FFELP) Request to Add Loans to a Federal Consolidation Loan
This form is used to request that your lender add eligible education loan(s)
that were not originally included in your Federal Consolidation Loan. This
form must be completed and returned to the lender so that it is received
within 180 days of the date the original Federal Consolidation Loan was
made.
Additional Loan Listing Sheet for Application and Promissory Note
This form provides the borrower (and/or spouse) with added space to list
additional loans to be included in his/her Federal Consolidation Loan or
considered in establishing repayment terms of the Consolidation loan.
Repayment Information
This form allows you to choose one of the repayment options described for
your Federal Consolidation Loan. You may also determine your Consolidation
loan amount, interest rate, and monthly payment amount using the charts
and worksheets provided.
Before you mail your application:
- Make sure to list all of the loans you wish to consolidate. If any loans
currently held by your consolidating lender are to be included, please
be sure to list them also.
- List references, complete with address and telephone numbers.
- Review your application and make sure all items are completed.
If you have any questions, please feel free to call SLND at 1-800-472-2166 ext. 5660 or e-mail to bndsl@nd.gov.
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