Science, Technology, Engineering and Math Student Loan Forgiveness Available Soon
BISMARCK, N.D. - College graduates employed in science, technology, engineering or math-related occupations in North Dakota may be eligible for student loan forgiveness through a program coordinated by the North Dakota University System and the Bank of North Dakota.
The STEM Loan Forgiveness Program forgives up to $1,500 per year for a maximum of four years. To qualify for the program, an applicant must have:
Successfully completed an approved STEM-related program at an approved public, private or tribal college or university
Maintained at least a cumulative 2.5 grade point average based on a 4.0 grading system
Obtained a student loan from the Bank of North Dakota or other participating lender and must not be in default on that student loan and
Been employed in a State Board of Higher Education-approved STEM occupation in North Dakota for at least one year following graduation.
Applicants who meet these qualifications will be considered based on the date their applications are received in the North Dakota University System Office, no earlier than May 1, 2010, but no later than June 30, 2010. Award recipients will be notified by July 31, 2010. Applicants must apply or re-apply annually for new or continued funding.
The STEM Loan Forgiveness Program was approved by the 2009 Legislative Assembly. The Bank of North Dakota is responsible for applying loan forgiveness payments.
More detailed information is available by accessing the North Dakota University System Web site at www.ndus.edu and clicking on Student and Parent Information/Financial Aid.