Banks Offer Student Loan Assistance Programs - KMOT.COM - Minot, ND - News, Weather, Sports

Banks Offer Student Loan Assistance Programs

Posted: Updated:

For many students affording college can be one of the biggest challenges of their time in school.
University of Mary graduate student Kristi Slaba has about $20,000 in loans she will soon have to pay back. She says staying on top of them while in school for physical therapy was key.

"A lot of them I think push them off and don't worry about it until after they've graduated and then they realize how much it actually is going to affect them in the future," says student Kristi Slaba. 

Slaba says she's been paying off as much as she can while she's still in school. But there are still options available for those who are struggling to make the payments after they graduate.

"The number one thing is to get a hold of their lender and try to make arrangements. If you have federally-assured student loans your payment can often be set based upon your income. So it may not be the monthly payment that you were regularly scheduled for," says student loan manager Shirley Glass.

She says there are also programs available at the Bank of North Dakota to help residents.

"We do have a DEAL consolidation program that allows us to consolidate alternative loans and offer more flexible repayment terms and often a much lower interest rate," says Glass.

Those with existing subsidized Stafford loans should not be worried about how a possible change in loan rates will affect them, because the higher rates will only apply to new loans. But even those may get worked out before students are applying for financial aid.

"There was a bill introduced yesterday that would hold rates at the rates they are at today. That was introduced yesterday. The Senate plans to vote on that when they return on July 10th," says Glass.

She says if that passes those rates would retroactively take effect July 1.

  • Latest NewsMore>>

  • UTTC Hosts Roundtable

    UTTC Hosts Roundtable

    Wednesday, April 23 2014 11:25 AM EDT2014-04-23 15:25:29 GMT
    Senator Heidi Heitkamp visits United Tribes Technical College to host a roundtable discussion about her bill that would create a Commission on Native Children.
    Senator Heidi Heitkamp visits United Tribes Technical College to host a roundtable discussion about her bill that would create a Commission on Native Children.
  • Paleontology Department Plans Museum

    Paleontology Department Plans Museum

    Wednesday, April 23 2014 11:17 AM EDT2014-04-23 15:17:58 GMT
    A tribal paleontology department is hoping to bring a museum to Standing Rock.
    A tribal paleontology department is hoping to bring a museum to Standing Rock.
  • Former Trinity High School Principal Enters Plea

    Former Trinity High School Principal Enters Plea

    Wednesday, April 23 2014 11:16 AM EDT2014-04-23 15:16:30 GMT
    The former Trinity High School principal accused of setting a fire inside the school in early March waived his preliminary hearing today, and pleaded not guilty to felony charges of arson and endangering by fire or explosion.
    The former Trinity High School principal accused of setting a fire inside the school in early March waived his preliminary hearing today, and pleaded not guilty to felony charges of arson and endangering by fire or explosion.
  • TOOLBOX

Most Popular

Stories
Videos
loading...
  • Special Feature HomeSpecial FeaturesMore>>

  • Ask An Attorney

    Ask An Attorney

    CLICK HERE TO GO TO THE ASK AN ATTORNEY PAGE!
    CLICK HERE TO GO TO THE ASK AN ATTORNEY PAGE!
  • Mobile Apps

    Mobile Apps

    We have the best Mobile Apps.  Learn how you can download yours today.
  • Me-TV North Dakota

    Me-TV North Dakota

    NBC North Dakota News has launched a new channel -- Me-TV North Dakota!  If you love the classics, Me-TV North Dakota has them.
    NBC North Dakota News has launched a new channel -- Me-TV North Dakota!  If you love the classics, Me-TV North Dakota has them.  Me-TV North Dakota will also play a replay on the Evening and Night Report at 11:30pm Monday-Friday.  As well as, local news and weather updates throughout the day.
Powered by WorldNow
    Powered by WorldNow
    All content © Copyright 2000 - 2014 Worldnow and KMOT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.