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Press Releases
Student Loans of North Dakota (SLND), a division of Bank of North Dakota, has again obtained the lowest default rate among student loan guaranty agencies nationwide. According to the U.S. Department of Education, Washington, D.C., SLND's default rate was 1.1% whereas the national average for all guaranty agencies was 5.2%.
"We have had this outstanding ranking for six of the last seven years," said Director of Student Loans, Julie Kubisiak. "Our customer service and collection representatives are very diligent working with over 55,000 customers. Also, I attribute this ranking to the strong value system of North Dakotans in meeting their obligations." For the future, Kubisiak stated that the agency will implement a "Default Prevention Plan" to further assist borrowers and lenders in preventing defaults on student loans.
Eric Hardmeyer, President/Bank of North Dakota, commented not only on the student loan national default rating, but the division's growth, "To have the lowest default rate in the nation is quite an achievement. Today, we are servicing nearly $27 million more loans than last year. The Bank will continue to offer loan programs that allow students to finance their education."
SLND's role is to guarantee, service, collect student loans, disseminate federal and state rules, regulations and procedures to schools, lenders and students participating with the North Dakota guarantor.
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