Senator Kent Conrad (D-ND) “today released the following statement after asking to remove a provision in the Education Title of the Budget Reconciliation Package that would have allowed the Bank of North Dakota to maintain its current level of lending and servicing loans to students at North Dakota’s colleges and universities,” according to a press release.
“I have asked the House of Representatives to remove this provision. The fact is the Bank of North Dakota is a unique entity – it is the only state-owned bank in the nation. It has not engaged in the abuses that have required the reform legislation that is before us. It not only originates the loans, it services the loans. As a result, the default average is ¼ of the national average. That is a good result for taxpayers, students and the people of North Dakota.
“But often, facts are the first victim in an overly heated partisan environment. And rather than see the excellent reputation of the Bank of North Dakota damaged, I have asked to have the provision removed.”
(credit image – minnpost)
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