Letter: Why doesn’t the Bank of North Dakota consider student loan forgiveness?

North Dakota has the one state-run, state-owned monetary establishment within the nation – the Financial institution of North Dakota. Having this useful resource permits North Dakota residents particular privileges that the remainder of the nation doesn’t have entry to; together with the power to earn post-secondary training financed by BND.

In good religion, North Dakota residents went to varsity with help from BND, earned levels, and entered the workforce. As President Biden closes in on a discount of federal pupil mortgage debt, it’s time for Gov. Doug Burgum and North Dakota’s Industrial Fee to observe swimsuit and suggest forgiveness of BND-owned pupil loans.

In keeping with BND’s 2020 annual report, the financial institution’s portfolio included simply over $1 billion of pupil loans. A small fraction compared to the $1,750 billion of federal pupil loans. If the remainder of the nation has the power and wherewithal to forgive any quantity of pupil loans, then actually North Dakota’s coffers can afford some type of forgiveness as effectively.

Don’t penalize North Dakota residents for taking out loans by the Financial institution of North Dakota. Don’t let North Dakota fall behind. Get out forward of this difficulty and forgive BND-owned pupil loans. Show to the residents that post-secondary training is simply as vital in North Dakota as it’s to the remainder of the nation.

Rob Smith lives in Fargo.

This letter doesn’t essentially replicate the opinion of The Discussion board’s editorial board nor Discussion board possession.