Student loan forgiveness available to college grads employed in STEM fields
Posted on 4/16/2014
For More Information Contact: Linda Donlin, Director of Communications and Media Relations North Dakota University System Phone: 701.328.2962 E-mail: email@example.com
BISMARCK, N.D. - College graduates employed in STEM-related occupations in North Dakota may be eligible for student loan forgiveness through the STEM Occupations Student Loan Program coordinated by the North Dakota University System and the Bank of North Dakota. STEM-related occupations include jobs in the fields of science, technology, engineering and mathematics.
The program provides loan forgiveness of up to $1,500 per year for up to four years. To qualify as an applicant for loan forgiveness, applicants must:
Have completed an approved, STEM-related program of study through a board-approved college;
Have maintained a cumulative grade point average of 2.5 on a 4.0 grading system;
Hold a qualifying federal student loan or Bank of North Dakota DEAL Loan that is not in default;
Have been employed on a full-time basis in North Dakota in an approved STEM occupation for 12 months following graduation, beginning at least by July 1 of 2013.
Applicants who meet these qualifications will be considered based on the date their application is received by the North Dakota University System. Applications will be accepted beginning no earlier than May 1, 2014, through June 30, 2014. Award recipients will be notified by July 31, 2014. Applicants must re-apply annually for continued or new funding.