# N.D. Cent. Code § 15-62.1-03: 15-62.1-03. Rates of interest permissible for guaranteed loans

> North Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-03

## Section

- **Citation:** N.D. Cent. Code § 15-62.1-03
- **Heading:** 15-62.1-03. Rates of interest permissible for guaranteed loans
- **Jurisdiction:** North Dakota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** ND Code / Title 15 / Chapter 15-62.1 / Section 15-62.1-03

## Text

15-62.1-03. Rates of interest permissible for guaranteed loans

All loans guaranteed by the agency and coinsured by the federal government must bear

interest at rates which are no greater than those provided under the federally coinsured loan

programs. In the event that the agency guarantees student loans without federal coinsurance

pursuant to section 15-62.1-02, the interest rate on such loans may be fixed or variable. Any

prohibition on the capitalization of interest does not apply to loans guaranteed under this

chapter. A loan guaranteed under this chapter may provide for interest which remains unpaid at

the end of any period specified in the loan to be added to the principal amount of the debt and

thereafter accumulate interest.

## Nearby sections

- [N.D. Cent. Code § 15-62.1-01 15-62.1-01. Guarantee student loan programs - Administration - Advisory board](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-01.md)
- [N.D. Cent. Code § 15-62.1-02 15-62.1-02. Powers and duties of the agency](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-02.md)
- [N.D. Cent. Code § 15-62.1-03 15-62.1-03. Rates of interest permissible for guaranteed loans](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-03.md)
- [N.D. Cent. Code § 15-62.1-04 15-62.1-04. Repayment of loans](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-04.md)
- [N.D. Cent. Code § 15-62.1-05 15-62.1-05. Establishment and maintenance of adequate guarantee funds - Appropriation](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-05.md)
- [N.D. Cent. Code § 15-62.1-06 15-62.1-06. Procedure on default of guaranteed loan](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-06.md)
- [N.D. Cent. Code § 15-62.1-07 15-62.1-07. Fees for insurance and other reasonable costs](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-07.md)
- [N.D. Cent. Code § 15-62.1-08 15-62.1-08. Contract with united student aid funds, incorporated, or similar nonprofit corporation](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-08.md)
- [N.D. Cent. Code § 15-62.1-09 15-62.1-09. Information system](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-09.md)
- [N.D. Cent. Code § 15-62.1-10 15-62.1-10. Eligibility for participation in federal student loan program](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-10.md)
- [N.D. Cent. Code § 15-62.1-11 15-62.1-11. Coordination with federal programs relating to student loans](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-11.md)
- [N.D. Cent. Code § 15-62.1-12 15-62.1-12. Assistance to other state agencies - Reports to the board](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-12.md)
- [N.D. Cent. Code § 15-62.1-13 15-62.1-13. State scholarship revolving fund - Student loan collections - Uncollectible loans](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-13.md)
- [N.D. Cent. Code § 15-62.1-14 15-62.1-14. Penalty](https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-14.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ND_T15_C15-62.1_S15-62.1-03. Check the current official text before relying on it. Not legal advice.