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NDUS Loan program

NDUS Loan program Click to Enlarge

The North Dakota Board of Higher Education will seek legislative approval to allow colleges and universities to tap into a Bank of North Dakota loan program.

Right now the low-interest loans are only available to cities and counties for infrastructure improvements – like roads. Board member Dan Traynor says it would give campuses additional flexibility.

The University of North Dakota made the request. President Mark Kennedy says they are searching for innovative ways to fund infrastructure improvements.

Board member Nick Hacker says he doesn’t object to the concept - but there are too many unanswered questions. Hacker says no estimate has been made on the dollar need or method of repayment.

The board approved the request on a five to two vote.

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