BND – Student Loan Services: Loan Types – DEAL Consolidation Loan Program #unsecured #loan

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DEAL Consolidation Loan non-North Dakota residents only. North Dakota residents click here .

Combine student loans from one or more lenders into one DEAL Consolidation Loan for a single monthly payment. You must have a DEAL Loan with Bank of North Dakota to qualify. Choose between a fixed or variable interest rate.

Types of loans

Combine your DEAL Loan, DEAL Consolidation Loan and private/alternative student loans from other lenders.

Interest rate

Choose between a fixed or variable interest rate

  • If you choose a fixed rate . the interest rate will be set on the day the Loan Approval Disclosure is generated and remains the same until the loan is paid in full. The Loan Approval Disclosure will generate when credit is approved, all loan documents are received and payoff information is received from your lender(s).
  • If you choose a variable rate . all of the loans being consolidated will use the variable rate in effect on the date the loan is booked. Every three months, the interest rate may increase, decrease or remain the same. The variable rate will never be greater than 10%. You can monitor your interest rate for changes by reviewing your billing statement. Your monthly payment amount may increase or decrease as interest rates change.
  • Interest rates through December 31, 2015





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