Bank of North Dakota
BISMARCK, N.D. (KFGO) -Those who received student loans from the Bank of North Dakota are not eligible for President Biden’s new loan forgiveness plan.
Biden’s debt relief program eliminates $10,000 for those who got loans from the U.S. Department of Education who earn less than $125,000 a year. An estimated 43 million people will benefit.
But it doesn’t apply to the more than 45,000 people have loans through the Bank of North Dakota, which gives out $100 million in loans every year.
Bank Vice President Kelvin Hullet says any forgiveness for student loan debt guaranteed by the state-run bank would require policy that would be passed by the Legislature.
Gov. Doug Burgum says he strongly opposes any legislation on loan forgiveness at the state level.
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