ND HB1092

Bank of North Dakota may impose annual administrative fees on the higher education savings plan to recover operating expenses and support the Bank's educational mission, with fees appropriated on a continuing basis.

Administrative fees and contributions to the higher education savings plan must support the Bank's educational mission rather than only higher education functions.

Removes the December 31, 1998 amendment date restriction for federal student loan guarantee standards under the Higher Education Act of 1965, allowing the agency to guarantee loans without federal coinsurance if federal coinsurance becomes unavailable.

Agency shall establish rules for repayment or deferment of both federally coinsured loans and non-coinsured loans guaranteed by the agency.

Repeals section 15-62.1-10 of the North Dakota Century Code regarding eligibility for participation in the federal student loan program.