debt management

Debt Management Guide Debt Management Guide S o yo u ’r e f i n a l l y g e t t i n g yo u r ow n c r e d i t c a r d s, c h e ck i n g a c c o u n t a n d s o u r c e o f i n c o m e. C o n gra t u l a t i o n s o n yo u r n ew i n d e p e n d e n c e ! Yo u s h o u l d k n ow t h a t a t r e m e n d o u s a m o u n t o f r e s p o n s i b i l i t y c o m e s w i t h i t . T h i s g u i d e w i l l g i ve yo u i n s i g h t s t o h e l p yo u avo i d g e t t i n g i n f i n a n c i a l d i f f i c u l t y. W i t h a l i t t l e k n ow - h ow a n d s o m e p l a n n i n g , yo u c a n m a ke t h e m o s t o f yo u r m o n ey. S t a r t h e r e t o l e a r n m o r e a b o u t yo u r s t u d e n t l o a n , yo u r r i g h t s a n d r e s p o n s i b i l i t i e s a s a b o r r owe r, a n d h ow t o m a n a g e yo u r m o n ey a n d b e c r e d i t w i s e. A n d f i n d m o r e h e l p f u l i n fo r m a t i o n a t my s t u d e n t l o a n o n l i n e. n d . g ov. Contents Section 1 - Get Organized .......................................................... 2 Monitor Your Checking Account Credit Card Smart Budget Wise Repayment Will Help You Establish Credit History Section 2 - Student Loan Debt Management .............................. 7 Don’t Jeopardize Your Future Borrowing Power Repayment Checklist Your Rights As A Student Loan Borrower Your Responsibilities As A Borrower Grace Period Section 3 - Consequences Of Default ........................................10 Loan Reinstatement Loan Rehabilitation Student Loan Ombudsman Section 4 - Identity Theft ...........................................................12 Section 5 - Loan Amount Per Academic Year ............................14 Section 6 - Budget ....................................................................15 Section 7 - To Sum It Up ............................................................16 section 1 Get Organized Organization is the first step to responsible money management. It saves time, money and headaches in the future. To help you know what bills you have, when they are due and how much you owe, start by creating a filing system and keeping copies of the following items: n n n n n n Bank statements Credit card bills Paycheck stubs Receipts for any tax deductible expenses Receipts for cash and credit card purchases and bills paid Credit contracts and any other financial documents Monitor Your Checking Account Pay attention to your checking account to make sure you’re not spending more money than you have. Keep your receipts and make sure they match what’s on your statement. You should also do the following: n n n n Review your checking account statement every single month. If you have online banking, you can monitor your account more often. Use your monthly statement or online banking to reconcile the balance in your checkbook. Know the accurate, up-to-date balance of your checking account. Realize the balance you get from the ATM machine or the 1-800 number does not necessarily reflect the actual amount available in your account. If there are checks you have written that have not yet cleared your account, your balance may appear greater than it actually is. If you don’t know how to determine your balance, ask your bank or credit union for help. You may also find a worksheet on the back of your statement to help determine your balance and reconcile your account. A history of bounced (NSF) checks not only costs you money in penalty fees but also negatively affects your credit report, costs you more in higher interest rates and keeps you from getting more credit or even a job. Keep in mind, a positive credit history is an asset when you apply for a credit card, job, insurance, or a loan to finance a car or home. Student Loans of North Dakota’s Web site, mystudentloanonline.nd.gov, contains helpful information about money management. You can learn how to create a budget and download a budget sheet. Check it out today! 2 mystudentloanonline.nd.gov n 1-800-554-2717 section 1: get organized Credit Card Smart With your first credit card comes a lot of temptation to overspend. But no matter how young you are, your credit card transactions become a part of your official credit report. Any negative information can plague you for seven years. As a student you can think of your credit report as your “credit transcript” and your credit score as your “credit GPA.” Credit scoring was first developed by Fair Isaac Corporation, which created the most widely used scale referred to as FICO® scores. The scale ranges from 00 to 850. Scores above 700 are generally considered to be “good.” Paying your bills on time each month has the greatest affect on your credit score. The following factors also impact your score: n n n Things to keep in mind when it comes to credit cards. Credit Card Do’s: Stop charging! Use only for emergencies. n Pay the balance in full each month or pay more than the minimum payment to reduce the principal balance. n Ask questions: – What is the interest rate? – What is the payment schedule? – What are the various fees (late, transaction, etc.)? n Limit number of cards you have. n Pay your bill on time. n Keep copies of your sales slips and compare charges when your statement arrives. n Keep your account information to yourself. n File your information in a safe place. n If your card becomes lost or stolen, report it immediately. n Be aware of the repayment schedule and fine print on the agreement. n n n Total debt. Age of accounts. Number of credit card accounts including number of new credit inquiries. The proportion of credit card balance to total available credit card limit. Weighting of factors that affect FICO® credit scores Length of Credit History Credit Card Don’ts: n New Credit 15% 30% Amounts Owed 10% n 10% 35% Types of Credit in Use n n n n Payment History n Don’t sign up for a card just to get a free gift such as pop or a t-shirt. If you can eat, drink or wear it – don’t charge it or borrow for it. Don’t spend on impulse. Don’t spend the maximum credit limit. It all adds up! Don’t get more cards to pay off other debt. Don’t lend your card to anyone, even a friend or relative. Don’t panic. Go to someone for help if you get yourself in over your head. Source: Understanding Your Credit Score (Fair Isaac Corporation, 2004). Available at http://www.myfico.com/offers/myFICO_UYCS%20booklet.pdf mystudentloanonline.nd.gov n 1-800-554-2717  section 1: get organized Help yourself by keeping on track. Divide your monthly expenses into two categories: Your credit score can be affected based on several factors. Some of these include your current score, the dollar amount of the balance and the length of your credit history. For example, if you already have a low score of 524 and default, your score may drop 15 points. However, if you have a high rating of 850 your score may drop 150 points! 1 Needs 2 Wants Unmanageable debt is one of the main reasons students don’t finish college. When their income doesn’t keep up with expenses, students often feel pressure to leave school for full-time employment. Credit card debt also contributes to bankruptcy, stress and strains in relationships. Shop around to get the best deal you can. Fees, charges and benefits vary among credit card issuers. When you’re choosing a credit card, shop around. Compare these important features: n n n n Annual Percentage Rate (APR) – A measure of the cost of credit, expressed as a yearly interest rate. Grace Period – The time between the date of a purchase and the date interest starts being charged on that purchase. Annual Fees – Many credit card issuers charge an annual fee for granting you credit. Some issuers charge no annual fee. Transaction Fees and other charges – Charged if you use the card to get a cash advance, if you fail to make a payment on time, or if you exceed your credit limit. Negative credit reports can hurt. Even before you graduate, your credit report may be reviewed by potential employers, insurance companies, landlords and car dealerships. Businesses buy your credit report from credit bureaus as a tool to determine if you are a good credit risk – a responsible person who pays bills on time. So, how important is that car stereo? Let’s say you find that car stereo you’ve always wanted and just can’t live without. Even though it costs $2,000, you decide to charge it to your credit card. How much will it cost you in the end? If your credit card has a 16% annual percentage rate (APR) and you only make the two-percent minimum payment, it will take you 291 months – more than 24 years – to pay off this debt. And, that’s assuming you don’t charge anything else to your credit card. In the end, your $2,000 stereo will cost you $3,329.14. 4 mystudentloanonline.nd.gov n 1-800-554-2717 section 1: get organized Federal law requires creditors to give you the name, address and telephone number of the credit bureau that supplied information which was used in determining your eligibility for a credit card. You should contact the credit bureau within 0 days of receiving the denial to receive a free copy of your report. If you find an error when reviewing the credit report, you are entitled to have it investigated by the credit bureau and corrected at no charge. You should dispute any inaccuracy in your report with the credit bureau and with the company that furnished the information to the credit bureau. If your file contains accurate negative information, only time and good credit habits will restore your creditworthiness. The following are major national credit bureaus: EQUIFAX, PO Box 740241, Atlanta, GA 074-0241, 1-800-685-1111, www.equifax.com EXPERIAN (formerly TRW), PO Box 949, Allen, TX 75002, 1-800-682-7654, www.experian.com TRANS UNION, PO Box 90, Springfield, PA 19064, 1-800-888-421, www.tuc.com Budget Wise In spite of your talents and education, upon graduating from college, it may take some time before you are making a comfortable living. Your first job out of college will likely be an entry-level position, and it’s possible your initial salary may be lower than what you expect. Expenses like your rent, clothes, car, food and student loan can drain your earnings faster than you think. Remember it’s important to live within your means. A budget will help you plan and manage your money wisely. Budgets are merely an approximation of income and expenses. They will vary from person to person depending on your lifestyle, income and location. To create a budget, start with how much money you bring home on a monthly basis and subtract out expenses. This process helps you to make sure money is coming in faster than going out. It also allows you to track your expenditures and identify areas for improvement or cut backs. See the sample budget worksheet on Page 15. By having a budget, you may find that about 5-10% of your total spending may be for purchases that are not needed. Think about it. What could you do with that extra 5-10%? Perhaps your future plans include buying your first home, going back to school, saving for your child’s college, paying down debt or simply setting aside cash for a special trip. mystudentloanonline.nd.gov n 1-800-554-2717 5 section 1: get organized QUIZ - Here is a little quiz to see if you know what things really cost: Q A Q A Q A Q A Q A How much should you expect to pay for utilities (gas and electricity) in your apartment each month? a. $55 b. $115 c. $200 How much does the average young adult spend on food per month? a. $00 b. $400 c. $500 How much does it cost to do one load of laundry at a laundromat? a. $2 b. $4 c. $6 At the end of a year, how much will the average young adult have spent on gasoline, oil, insurance and other costs of operating a car? a. $1,250 b. $2,250 c. $,50 How much does the average young adult spend on household cleaning supplies in a year? a. $25 b. $125 c. $225 (Answers: b, a, b, b, c) How did you do? To test your money management skills further, go to showmethefuture.org and play an interactive game created by Mapping Your Future. This game uses real-world scenarios in which you choose how to spend and manage your money. Through your own choices, you will learn the importance of life skills and financial tools for success. You can find the cost of living (housing, food, utilities, etc.) for most cities from their Chamber of Commerce. There are also numerous resources online that will help you learn the cost of living, including http://salary.nytimes.com. Repayment Will Help You Establish Credit History When you apply for other types of credit, such as a car loan, home loan or credit cards, you’ll have to demonstrate that you are creditworthy, or in other words, that you have an acceptable credit rating. To begin building a credit history, there are a few things you can do: n n n n Pay all bills and credit obligations on time. Establish a checking and/or savings account and use them responsibly. Have a telephone installed and billed in your name. Pay student loans on time. mystudentloanonline.nd.gov n 6 1-800-554-2717 section 2 Student Loan Debt Management Like any other debt, your student loan is a serious financial obligation that must be repaid. In addition to the amount you borrow (called the principal), you will be charged interest for the use of the funds. Failure to make your monthly payments on time can adversely affect your credit and your future ability to borrow for other purposes. To estimate your total education loan debt, use the chart on Page 14. A word to the wise: You should keep your level of student loan debt to a minimum. You may want to save some of that graduation money or work a part-time job to cover expenses such as gas, food and phone to reduce your loans. A rule of thumb is that your student loan payments should not exceed 8% of your anticipated gross income. In this region, the average undergraduate student accumulates student loan debt of about $20,000. With interest at 6.8%, this amounts to an estimated payment of $20 per month for 10 years under the Standard Repayment Plan. Using the recommended guideline of the 8% debt-to-income ratio, the student would need an annual income of about $4,500. Borrowers who pursue graduate degree programs have a higher level of debt when they graduate. The average graduate student loan debt is about $24,000, requiring an estimated payment of $276 per month for 10 years and an annual income of $41,400. Don’t Jeopardize Your Future Borrowing Power! Make your payments promptly! If you cannot make a scheduled student loan payment, for any reason, immediately contact your lender. It’s possible that your lender can help you take steps to prevent your loan from becoming delinquent and going into default. Lenders want to make your payment plan easy and convenient. There may be different methods available to make your student loan payments, check with your lender or loan repayment center to determine the options available to you. They may include: n n Automatic Payment – Your student loan payments can be automatically deducted each month from your checking or savings account. This is the most convenient method to repay your student loan. You’ll save money by not writing a check or paying postage, plus you’ll avoid late charges. Better yet, with Automatic Payment, loans may qualify for an interest rate reduction! Pay-by-Phone – Another easy payment option is to simply call your lender to make a payment from your checking or savings account. n mystudentloanonline.nd.gov 1-800-554-2717 7 section 2: debt management n n n Online Payment – You can even make your payment online. Just go to your lender’s Web site, log into your account and select online payment. Coupon Books – You can receive a coupon book from your lender. Each time you make a payment, you’ll need to include a coupon with your check. New coupon books are issued as needed until you pay off your loan. Be sure to contact your lender if you change your address. Billing Statements – Each month, you can receive a convenient reminder to pay your student loan. Repayment Checklist n n n n n n Estimate your future earnings to determine how much you can afford to pay. Contact your lender before your grace period expires. Discuss any concerns before you begin repaying your loan. If you have multiple lenders, be sure to contact each one. Treat each loan as a separate debt. Don’t ignore correspondence from your lender, your servicer or loan repayment center, or your guarantor. Keep copies of all correspondence, canceled checks, and any forms you sign. Call your lender or loan repayment center immediately if you are having difficulty meeting your monthly payment, have questions, or any other circumstances affecting your loan repayment. If you have unpaid interest due at the time your loan enters repayment, your lender will capitalize that interest. This is a process that adds the unpaid interest to the principal balance. Remember, interest is charged on the total principal due after the accrued interest is capitalized. This means you will pay interest on the interest that has been added to the principal. For more information about repayment options and plans available to you, go to mystudentloanonline.nd.gov and select the “Student Loans” tab. And remember, most lenders offer online access to account information for borrowers, making it easy for you to check on your account 24/7. Check with your lender to see if this is available. Your Rights As A Student Loan Borrower So now that you have a student loan, what are your rights? n n n You are entitled to a repayment period of at least five years unless your minimum monthly payment (set by regulations) results in a lesser payment term. The maximum repayment term can be either 10 or 25 years, depending on the total loan balance and date of the first disbursement. You have a right to repay the loan in whole or in part at any time without penalty. You are entitled to a copy of your repayment schedule and financial disclosure statement. This will be provided by your lender or loan repayment center. mystudentloanonline.nd.gov n 8 1-800-554-2717 section 2: debt management n n n You have a right to be informed in writing if your lender sells your student loan or otherwise transfers the right to receive payment. You have a right to defer payments for a specific period of time if you meet the eligibility requirements and submit the necessary documentation. You have a right to examine the federal and state regulations governing the student loan program. Your lender or loan repayment center will have a copy of this information. Your Responsibilities As A Borrower Borrowing money through a student loan is a great responsibility and requires some actions on your part. Remember to: n n Make your loan payments promptly. Contact your lender or loan repayment center if: 1. you change schools; 2. you change your name, address, telephone number, or Social Security number; . you change your enrollment status (example: from full-time to half-time status, withdraw from school, or return to school); or 4. your employer(s) address or phone number changes. Grace Period The grace period – a time frame in which payments are not required – may vary depending on the type of loan. For example, if you have a Federal Stafford loan, you will receive a six-month grace period when you are no longer attending school at least half-time. Once the grace period has expired, you will have to start making payments on the principal and interest of your loan(s). If you have a Federal Unsubsidized Stafford loan, you will always pay your own interest. If you re-enroll at an eligible school on at least a half-time basis before your grace period expires, your loan will return to its former in-school status and the repayment of the principal will again be postponed. In this case, when you leave school, your grace period will start over. Re-enrollment after the grace period has expired will not reverse your repayment status, nor will you be eligible for an additional grace period. However, you may be able to postpone your principal payments through a deferment or a forbearance. Parent Loan for Undergraduate Students (PLUS) loans and loans which are consolidated do not receive a grace period. Perkins & Nursing Student Loans For information specific to the Perkins loan program, please visit mapping-your-future.org. For information regarding nursing loans, please contact your school’s financial aid office. mystudentloanonline.nd.gov n 1-800-554-2717 9 section  Consequences Of Default A guaranty agency (such as Student Loans of North Dakota-Guarantor) insures your Stafford student loan. If you fall behind on the repayment of your loan by 270 days, it is then considered in default. Your guaranty agency will purchase the loan from your lender. From that point forward, your loan will be with the guaranty agency and not with your lender or servicing institution. Default is a serious situation. When a loan is in default, several things occur: n n n The entire balance of the loan is due immediately. The debt is reported to national credit bureaus as a defaulted loan. You are no longer eligible for Title IV student financial assistance. This includes student loans, Pell Grants, and college work study. n n n n n You are no longer eligible for deferments or forbearance. Collection costs will be assessed, which will dramatically increase your debt level. Your federal and/or state income tax refund may be seized as payment on the loan. Your wages may be garnished. Your loan may be assigned to a professional collection agency. Once a loan is in default, the only way to get out of default is payment in full, loan consolidation, or loan rehabilitation. You also have responsibilities for the Perkins or Nursing Student loans. If you fail to make your monthly payments, these loans will be considered in default status. A default status for a Perkins loan has the same adverse effects as a default status for the Stafford loan. 10 mystudentloanonline.nd.gov n 1-800-554-2717 section : consequences of default Loan Reinstatement Loan reinstatement is the process wherein the borrower may make arrangements with the guaranty agency to re-establish regular monthly payments on a defaulted loan. If a borrower in default makes six consecutive, on-time, voluntary, monthly payments in accordance with his or her agreement with the guarantor, the borrower may recover many rights and privileges under the Federal Family Education Loan Program. Loan Rehabilitation The borrower may request the loan be considered for the guarantor’s loan rehabilitation program, in which case (if approved) the borrower makes nine consecutive, on-time, voluntary, monthly payments. The loans are then repurchased by a lender and the loan is no longer considered in default. The borrower will once again have deferment rights and other program benefits that are not available to a defaulted borrower. Student Loan Ombudsman If you have an unresolved issue about your federal student loan, contact the holder of the loan. For a listing of loan holders, refer to the U.S. Department of Education at www.fsahelp.ed.gov. Student loan borrowers through SLND may document concerns and submit a written dispute to: Student Loan Ombudsman, PO Box 5524, Bismarck, North Dakota 58506-5524. Should your dispute still remain unresolved, you will be directed to contact: The Department of Education Ombudsman 1-877-557-2575 or Office of the Ombudsman Student Financial Assistance U.S. Department of Education Rm. 012, ROB # 7th and D Streets, SW Washington, DC 20202 mystudentloanonline.nd.gov n 1-800-554-2717 11 section 4 Identity Theft Identity theft occurs when someone steals personal information such as your name, Social Security number, address, birth date, credit card number or bank account number for fraudulent purposes. It is considered by the Federal Trade Commission (FTC) to be the fastest growing crime in America and also the number one Identity Theft Complaints by Victims Age1 concern of people contacting the FTC. 29% No one knows for sure how many college students have been victims of identity theft, but they are popular targets. Also, college students create risks for themselves. The popularity of social networking sites such as Facebook and MySpace has led to concerns that students disclose too much personal information without considering the potential dangers. 0 20 10 0 1 24% 20% 1% 9% 5% 0-17 18-29 0-9 40-49 50-59 60+ Percentages are based on the total number of identity theft complaints where victims reported their age (239,277). 95% of the victims who contacted the Federal Trade Commission directly reported their age. Identity thieves obtain your information through the use of technology and oldfashioned stealing. Some methods used to get people’s information include: n n n n n Dumpster diving – Rummaging landfills or trash bins at businesses or homes. Mail theft – Stealing mail from mail boxes. Lost or stolen wallet or purse. Pretexting – The act of obtaining your information under false pretenses such as posing as a bank or marketing representative and calling people to try to get their information. Phishing – Fake e-mails or Web sites, created to look like those of an actual business, asking to “update” or “validate” account information. Once identity thieves have your information, they may: n n n n n Open new credit accounts in your name or run up your existing account. Obtain loans in your name that are not repaid. Open bank accounts in your name. Write bad checks. Commit crimes, resulting in warrants being issued in your name. Victims of identity theft spend an average of 600 hours reclaiming their identity. This amounts to nearly $16,000 in potential or realized income. The impact of identity theft can last for years as victims battle collection agencies, struggle with higher interest rates, increased insurance or credit card fees and the inability to find a job. According to Identity Theft Resource Center, this impact may be felt for more than 10 years after the crime was first discovered. 12 mystudentloanonline.nd.gov n 1-800-554-2717 section 4: identity theft Identity theft is a serious crime, but there are many things you can do to protect your information and minimize your risk. n n n n n n n n n n n n n n n n Carry a minimum number of credit cards and IDs. Secure your personal information in your home, especially if you have roommates. Don’t carry your Social Security card with you; leave it in a secure place. Give your Social Security number only when absolutely necessary. Ask to use other types of identifiers. Review your monthly credit card and bank statements immediately. Match your receipts to your monthly statements. Protect your PIN numbers – don’t carry them with you or write them on your ATM, debit or credit cards. Shred the following: – Credit, debit and ATM receipts. Did you know? – Confidential documents. n 27.3 million Americans have become – Pre-approved credit card offers. victims of identity theft in the last five Never give out the numbers for your years. credit card, bank account or Social n Consumers reported $5 billion in outSecurity number on the telephone or of-pocket expenses. through the mail, or on the Internet – Average amount per victim is $500 unless you initiated the contact or – $1,200 for victims of new accounts know who you are dealing with. n 52% discovered they were victims by Create and regularly change monitoring their accounts. passwords for your credit card, bank n 26% were alerted of suspicious and phone accounts. account activity by credit card Mail items from a locked or secure companies or banks. mailbox. n 8% learned after being turned down Secure your mailbox with a lock. for credit. Look for Web site privacy policies. Beware of student loan identity theft. Contact your bank or credit card company if you have not received statements for a few months. Obtain your free, annual credit reports at www.annualcreditreport.com. Review and report any discrepancies. If you think you’ve been a victim of identity theft, you should immediately: n n n n File an identity theft report with your local law enforcement agency. File a report with the Attorney General’s office. Place a fraud alert on your credit reports, and review them. Close accounts that have been tampered with or opened fraudulently. For more information about identity theft, go to the Federal Trade Commission Web site, www.consumer.gov. You can also learn more on the North Dakota Attorney General’s Web site, www.ag.nd.gov or by calling the office at 701-28-404 or 800-472-2600. mystudentloanonline.nd.gov n 1-800-554-2717 1 section 5 Loan Amount Per Academic Year Federal Subsidized Stafford Federal Unsubsidized Stafford Other Federal Loans Alternative Loans Undergraduate First Year Second Year Third Year Fourth Year Graduate First Year Second Year Third Year Fourth Year Fifth Year Total Interest Rate Monthly Payment (see chart in Repayment Options brochure or go to our Web site mystudentloanonline.nd.gov) My estimated total monthly payment is $ __________________ for all loans to all lenders. This chart is provided for you by Student Loans of North Dakota @ Bank of North Dakota to estimate your total education loan debt. Add the amounts you currently owe to the amount you anticipate borrowing in the future. 14 mystudentloanonline.nd.gov n 1-800-554-2717 section 6 Budget Monthly Income Expected Gross Salary Subtract Taxes & FICA (approx. 25-0%) $ (-) Net Monthly Income $ Monthly Expenses Student Loan Payment(s) House/Renters Insurance Housing Maintenance (appliances, yard, etc.) Utilities (heat, lights, water, etc.) Telephone (cell, local, long distance) Food Child Care (including child support) Automobile & Recreational Vehicle Payment Automobile Maintenance (insurance, gas, etc.) $ $ $ $ $ $ $ $ $ Rent or House Payment (property taxes, specials) $ Credit Cards Personal Loans Clothing & Accessories Personal Items (household, toiletries, etc.) Laundry/Dry Cleaning Medical Cost (insurance, medications, etc.) Dental & Eye Care (braces, glasses, etc.) Union or Professional Dues Entertainment & Recreation (including hobbies) Savings Fund Emergency Fund Retirement Fund Investments (CD’s, bonds, stocks) Miscellaneous (gifts, tax preparations, etc.) $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Total Monthly Living Expenses $ Balance (net income - total living expenses) This chart is provided for you by Student Loans of North Dakota @ Bank of North Dakota. mystudentloanonline.nd.gov n 1-800-554-2717 15 section 7 To Sum It Up Debt management is an important and attainable goal that will help you make the most of your money. Knowledge is not enough, you must practice good habits. By getting organized, following a budget, avoiding excessive credit card or student loan debt, and repaying obligations on time you will be on your way to achieving your goals. For more information, visit Student Loans of North Dakota’s Web site at mystudentloanonline.nd.gov. Notes 16 mystudentloanonline.nd.gov n 1-800-554-2717 B a n k o f N o r t h D a ko t a d o e s n o t d i s c r i m i n a t e o n t h e b a s i s o f ra c e, c o l o r, n a t i o n a l o r i g i n , s ex , r e l i g i o n , a g e o r d i s a b i l i t y i n t h e a d m i s s i o n t o, a c c e s s t o, o r o p e ra t i o n s o f p r o gra m s, s e r v i c e s o r a c t i v i t i e s. I n d i v i d u a l s w h o n e e d a c c o m m o d a t i o n s, a l t e r n a t i ve fo r m a t s, o r i n fo r m a t i o n o n i n t e r n a l gr i eva n c e p r o c e d u r e s c o n t a c t t h e S u p p o r t S e r v i c e s M a n a g e r, 7 0 1 - 3 2 8 - 5 6 2 0 , M - F, 8 a . m . t o 5 p. m . 700 E. Main Ave. PO Box 5524 Bismarck, ND 58506-5524 1-800-472-2166 ext. 5754 1-800-64-916 TDD 1-701-28-5716 FAX mystudentloanonline.nd.gov slndga@nd.gov SL20 10/2006